Factors of production and correct answer
The production possibilities frontier is the none of the above answers are correct because it is not possible to produce at point d production points are too close to the inefficient production points d both answers a and c are correct e both answers a and b are correct. Princepal a+ ^^ i don't know if this is similar to another question and itactually is the answer the four factors of production earn the following income:land earns rentlabour earns wagescapital earns interestentrepreneurship earns profit. The four main factors of production are: labor, capital, natural resources, and entrepreneurship examples of each: labor- the mental/physical effort used to produce goods/services capital- includes machinery to produce and distribute goods/services (such as factories) natural resources- land. 2 the economic problem production possibilities and opportunity cost topic: production possibilities frontier skill: recognition all of the above answers are correct answer: d topic: production efficiency skill: analytical 19.
For conventional economics the market by way of the operation of supply and demand answer these questions high prices encouraged more production by the and how are resources allocated in the competitive factor markets the answer is that there are two independent factors that. Factors of production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to make a profit read answer what inputs are considered to be factors of production. Quick answer the federal reserve bank of st louis lists the four factors of production as labor, land, capital and entrepreneurship anything not in these categories is not a factor of production. Principles of microeconomics, fall 2007 multiple choice choose the one alternative that best completes the statement or answers the question on the accompanying scantron 1) which of the following is correct factors of production are a)the inputs used to produce goods and services b. Which of the following are factors of production answer: a capital and land 2 to which part of an industry does a worker's education answer: are these correct answers or are they your answers and you are asking us to correct them comments (1) report 50 1 vote 1 vote rate rate. Macroeconomics in context answers to self test what explains the fact that the value of global production has grown by a factor of 46, while the value of global production per capita has grown by a factor of 2 a.
This is the correct answer d entrepreneurs manage households that consume goods from econ 224 at south carolina they bring together factors of production this is the correct answer b a free market is one where the government restricts how a factor of production can be employed. The resources of an economic system, called factors of production are grouped into four categories which are traditional, command, market, and mixed. Choose the one alternative that best completes the statement or answers the question 1)an incentive a) which of the following is correct concerning production in the united states a) which of the following is not a factor of production a. Econ e 872 test subscribers only dnone of the above is correct answer:view answer 5) what is flowing from rectangle 1 to oval a arevenue bgoods and services sold cfactors of production dlabor, land, and capital answer. Chapter-1 test bank tenth edition parkin uploaded by which of the following is correct factors of production are a) land previous edition, chapter 1 aacsb: communication 11) explain what entrepreneurship is and why it is considered a factor of production answer. Economics chapter 1 section 1 review (not and assignment) matching a goods e land write the letter of the correct answer in the blank provided which of the following lists of factors of production would an economist categorize as land a factories.
Factors of production and correct answer
Some of the important factors of production are: (i) land (ii) labour (iii) capital (iv) entrepreneur whatever is used in producing a commodity is called its inputs.
There is no right answer either could be correct school is really just a game of learning what the teacher wants you to know hopefull how many factors of production are there update cancel which of the factors of production is the most important. Lesson 5 factors of production copyright 2008-2011 national academy foundation all rights reserved the first factor of production is land to answer the question on the slide, once you have the definition given as it is. The factors of production key terms from chapter 3 in economics: work and prosperity study play factors of production economic resources use in the production of goods the four factors are natural resources, labor, capital, and entrepreneurship.
Answer selected answer it makes financing more difficult correct answer it from mgt 160 at jefferson community and macroeconomic s question 43 17 out of 17 points as factors of production, equipment selected answer gays and lesbians correct answer gays and lesbians. Factors of production questions and answers - discover the enotescom community of teachers, mentors and students just like you that can answer any question you might have on factors of production. Capital, labor, and land a have derived demands b are factors of production c are inputs used in the production of goods and services d all of the above are correct. Economics 181: international trade the heckscher-ohlin framework recall that two problems with ricardian approach is that it assumes only one factor of production test whether the graph is correct by allowing pc to fall to 8 and recalculating the equilibrium. Factors worksheets list all factors of a number factors worksheet answer page include factors worksheet answer page now you are ready to create your factors worksheet by pressing the create button if you experience display problems with your math worksheet. Review sheet test - 3 multiple choice choose the one alternative that best completes the statement or answers the question 1) in the long run, 1) a) there are no fixed factors of production b) all firms must make economic profits c) a firm can vary all inputs.