The Person Who First Used the Term fauve to Describe

question 15

True/False

The person who first used the term fauve to describe the style that came to be known as Fauvism was Henri Matisse.

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Definitions:

Accounting Profit

The total revenue of a business minus the explicit costs of operating, not including opportunity costs.

Implicit Costs

The opportunity costs that are not directly paid out but represent the loss of potential income from using resources in a certain way.

Opportunity Costs

Missing out on possible advantages from other choices by opting for a particular alternative.

Externalities

Spillover effects of an activity that influence the well-being of nonconsenting parties.