Factors of production are
a. the mathematical calculations firms make in determining their optimal production levels.
b. social and political conditions that affect production.
c. the physical relationships between economic inputs and outputs.
d. inputs into the production process.
d
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If an economy is operating inefficiently, then
A. the economy can increase production of consumption goods without reducing capital goods. B. there is always a positive opportunity cost to increasing output. C. output can only be increased through capital investment. D. output cannot be increased.
The U.S. financial system is a(n) __________ system
A) markets-oriented B) angel financing C) banking-oriented D) loan committee
In which of the following situations will both market clearing price and the equilibrium quantity decrease?
A) an increase in demand and no change in supply B) an increase in supply with no change in demand C) a decrease in supply with no change in demand D) a decrease in demand with no change in supply
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in corporate governance practices. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in country infrastructure. e. Expected changes in budgets and capital budgeting projects.