Capital is a factor of production. Which of the following is an example of capital?
i. $1,000 in money
ii. 100 shares of Microsoft stock
iii. $10,000 in bonds issued by General Motors
iv. a drill press in your local machine shop
A) i and ii B) ii only C) iv only D) iii only E) ii and iii
C
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A copyright creates a monopoly by restricting ________
A) the prices that can be charged B) demand for the product C) entry into the market D) the number of creators and inventors
When secondary market buyers and sellers of securities meet in one central location to conduct trades the market is called a(n)
A) exchange. B) over-the-counter market. C) common market. D) barter market.
Price elasticity of demand measures the responsiveness of quantity demanded in a market to a change in price
a. True b. False Indicate whether the statement is true or false
Entry barriers exist in a perfectly competitive industry
a. True b. False Indicate whether the statement is true or false