In Lebanon, Palestinian Refugees Are Able to Become Citizens, Work

question 12

True/False

In Lebanon, Palestinian refugees are able to become citizens, work, and own land.

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Definitions:

Accounting Profit

Revenue minus explicit cost.

Factors of Production

The resources used in the creation of goods and services, traditionally categorized into land, labor, capital, and entrepreneurship.

Opportunity Cost

The real cost of an item: what you must give up in order to get it.

Explicit Cost

Direct, out-of-pocket payments for expenses incurred in business operations, such as wages, rent, and materials.