Establish the relationships between these fundamentals notions:
- Rate of return
And their definitions:
- The process of transforming scarce ressources to make them available
- Profitability: ratio in value between the profit and any cost in the production process.
- Productivity: ratio in volume between the results of some production and what made that production.
- Rate of return: ratio between the profit and the value of a production process.
- Renonciation: state of an economic agent that just made a choice, considering the option rejected.