A System for Combining Symbols So That an Infinite Number

question 28

Multiple Choice

A system for combining symbols so that an infinite number of meaningful statements can be made is called ________.

• A) pragmatics
• B) language
• C) semantics
• D) grammar

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Definitions:

Economic Profit

The variance between a company's overall incomes and its combined explicit and implicit expenses.

Implicit Costs

The opportunity costs of using resources owned by the firm for its operations instead of renting, selling, or utilizing them in other ways.

Implicit Costs

The opportunity costs of using resources that a firm already owns, typically non-out-of-pocket costs.

Explicit Costs

Direct, out-of-pocket payments for goods or services used in production, such as wages or rent.