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Answers #2

By Bernard

Here are the answers of the Exercice #2:

  • Production: the process of transforming scarce ressources to make them available
  • Productivity: ratio in volume between the results of some production and what made that production.
  • Profitability: ratio in value between the profit and any cost in the production process.
  • 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.