Wgu c718 vocabular - Study guides, Class notes & Summaries

absolute advantage - CORRRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRRECT ANSWER additional costs incurred by third parties outside the production process when a unit of output is produced adverse selection - CORRRECT ANSWER w...

WGU C718 vocabulary absolute advantage - CORRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRECT ANSWER additional costs incurred by third parties outside the production process when a unit of output is produced adverse selection - C...

absolute advantage - CORRRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRRECT ANSWER additional costs incurred by third parties outside the production process when a unit of output is produced adverse selection - CORRRECT ANSWER w...

2023 WGU C718 vocabulary CORRECTLY ANSWERED GRADED A

absolute advantage - CORRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRECT ANSWER additional costs incurred by third parties outside the production process when a unit of output is produced adverse selection - CORRECT ANSWER when th...

WGU C718 vocabulary Exam 2023 Well Explained ...