What are the three most important factors of production?
The three most important factors of production are labor, land, and capital.
You might also like to view...
What alternative to restrictions on capital inflows do some economists recommend to minimize the possibility of increased lending booms and risk taking by domestic banks?
What will be an ideal response?
In a purely private economy, the difference between actual investment and desired investment measures the undesired change in inventory.
Answer the following statement true (T) or false (F)
?If a firm is producing at an output level where the total revenue curve intersects the total cost curve, which of the following is true of the firm?
a. ?Its profit is zero. b. ?Its cost is maximized. c. ?Its cost is minimized. d. ?Its revenue is maximized. e. ?Its profit is maximized.
Air pollution is an example of a negative externality.
Answer the following statement true (T) or false (F)