Answer:
Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises.
One assumption of the perfectly competitive model is free entry and exit. this assumption most directly leads to the implication that positive economic profit is only possible in the short run.
Profit is the difference between the return an economic agent earns from its output and the opportunity cost of its input. It equals total revenue minus total costs (including explicit and implicit costs).
Economic profit or loss is the difference between the revenue from the sale of output and the cost and opportunity cost of all inputs used. Opportunity cost and explicit cost are subtracted from earned revenue when calculating economic profit.
Learn more about economic profit here: brainly.com/question/24477585
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Answer:
(A region) is a basic unit of geographic study. It is defined as an area that has unifying characteristics.
Answer:
Option D
Explanation:
The endowment effect is a finding in psychology and behavioural economics that states people are more likely to hold on too an object they own rather than taking that same object which they don't own. Just like I have a pen ,a blue pen to be precise, then I saw the same pen on the floor, instead of me taking that on the floor, I decide to hold on to the one I have other than taking that which is in the floor,this is called endowment effect. Option d explains more better.
It is not necessary to create an instance of the math class because the constants and methods of the class are static. This is to say that regarding the math class, its constants and methods are fixed, they lack action or change. Therefore it is not needed to create an instance or examples of the class itself.
