Economic Rent Is a Concept That Can Be Applied

question 28

Multiple Choice

Economic rent is a concept that can be applied

• A) only to land, as that is the only resource that is in limited supply.
• B) only to land and natural talent.
• C) to any factor of production that is fixed in supply.
• D) to any resource or factor of production that has a supply curve with a positive (upward) slope.

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Definitions:

Social Ability

The skill to interact and communicate effectively with others in social settings.

Bronfenbrenner

Urie Bronfenbrenner developed the Ecological Systems Theory to explain how the inherent qualities of a child and the characteristics of the external environment which the child finds himself in interact to influence how the child will grow and develop.

Bioecological Model

A theoretical model proposing that an individual's development is influenced by the complex interrelations among various personal and environmental factors.

Mesosystem

A term from Bronfenbrenner's ecological systems theory referring to the interconnections between the microsystems in a person's life.