The factors of production include all of the following EXCEPT:
A.) Money.
B.) Land.
C.) Labor.
D.) Entrepreneurship.
A.) Money.
You might also like to view...
In a graph showing the market supply and demand for British pounds in terms of U.S. dollars, the supply-of-pounds curve is upward-sloping because ________.
A. fewer British pounds can be purchased per dollar if U.S. dollars become more expensive B. fewer U.S. dollars can be purchased per pound if British pounds become less expensive C. the British will purchase more U.S. goods or services when the dollar price of pounds falls D. the British will purchase more U.S. goods or services when the dollar price of pounds rises
In addition to saving and investment in capital, making an even larger contribution to long-term economic growth in real GDP per person
A) are technological advances. B) is lower current consumption. C) is higher current consumption. D) is a larger work force.
The accompanying graph depicts demand.
At point D, demand is:
A. price elastic. B. perfectly price elastic. C. price inelastic. D. unit elastic.
Transactions costs refer to
A) the cost of transporting goods from one destination to another. B) the raw material cost of production. C) the costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services. D) the implicit costs of production.