Match the Words with the Most Closely Associated Term

question 59

Multiple Choice

Match the words with the most closely associated term.
-Trawling

• A)protects turtles
• B)deaths of marine mammals and seabirds
• C)drags on the bottom, damaging benthic habitat
• D)destroys mangrove habitat

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Definitions:

Purely Competitive Seller

A market participant that operates in a perfectly competitive market, where no single seller can influence prices or market conditions.

Diminishing Marginal Productivity

A principle in economics stating that as additional units of a variable input are added to a fixed input, the marginal product of the variable input eventually decreases.

MRP

Marginal revenue product, the additional revenue generated by employing one more unit of a resource.

Wage Rate

The standard amount of pay given to employees per unit of time, which may vary based on industry, occupation, and experience.