In Very Simple Societies

question 119

Multiple Choice

In very simple societies:

• A) the concept of family is not well-defined.
• B) all major social needs are met by the family and kinship.
• C) the definition of family is universal.
• D) education and defense are the only responsibilities of the government.

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Definitions:

Net Present Value

A financial metric that calculates the value of a projected future cash flows relative to the initial investment, considering the time value of money.

Break-Even Time

The period required for a business to generate enough revenue to cover its total costs, reaching a financial state where profit and loss are exactly balanced.

Payback Period

The length of time it takes to recover the initial cost of an investment, calculated by dividing the investment cost by annual cash inflows.

Hurdle Rate

The lowest acceptable profit that a project or investment must generate to meet the requirements of a manager or investor.