Any resources that are made by humans and used to create other goods and services are called:
a) services
b) production
c) capital
d) labor
Answer: c) capital
Economics
You might also like to view...
The use of a price system eliminates: a. scarcity
b. equilibrium. c. shortages and surpluses. d. changes in supply and demand.
Economics
Price leadership
a. is a form of explicit collusion b. works only when firms have dominant strategies c. is a form of tacit collusion d. reduces long-run economic profit for individual firms e. rarely is effective in setting prices in oligopolistic markets
Economics
Price controls use the power of ______ to influence prices.
a. labor unions b. producers c. consumers d. government
Economics
Globalization was much more pervasive in the 1800s than it is today
a. True b. False Indicate whether the statement is true or false
Economics