The Areas of Housing Outside Inner Cities Are Called

question 67

Multiple Choice

The areas of housing outside inner cities are called:

• A)smaller neighborhoods
• B)business districts
• C)suburbs
• D)conurbations
• E)rural areas

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of a good or service.

Cost-Benefit Analysis

An economic evaluation method that compares the relative costs and benefits associated with a proposed project or decision.

Opportunity Cost

The worth of the best alternative given up when a decision is made.

Cost-Benefit Analysis

An evaluation process that compares the costs and benefits of a decision or project to determine its feasibility or worth.