Which theory of economic growth concludes that growth can continue indefinitely?
A) the classical theory
B) the neoclassical theory
C) the new theory
D) all of the theories
C
Economics
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When an economy's limited resources are moved into the production of one commodity, the production of a valuable alternative has to be foregone. This most valuable alternative lost is referred to as:
a. the marginal cost. b. the opportunity cost. c. the sunk cost. d. the fixed cost.
Economics
Assume that a cargo ship carrying the merchandise of a cloth merchant has been wrecked. Such a setback will be accounted as the merchant's:
a. sunk cost. b. deadweight loss. c. marginal cost. d. opportunity cost.
Economics