Which of the following is likely to be most capital-intensive?
A. Oil refining in the United States.
B. Production of clothing in rural China.
C. Farming in developing countries.
D. None of the choices are correct.
Answer: A
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The marginal revenue product is: a. the value of all the final goods and services produced by a firm
b. the value that an worker contributes to a firm. c. an increase in the profit of a firm with an increase in the output by one unit. d. the output per unit of worker employed by a firm. e. the value that all the unskilled workers contribute to a firm.
From 2010 to 2050, the inverse dependency ratio in the U.S. is expected to:
A. Rise from 1.2 to 1.8 B. Fall from 1.5 to 1.2 C. Remain stable at 2.1 D. Rise from 1.5 to 2.8
The market structure in which there is interdependence among firms is
A) monopolistic competition. B) oligopoly. C) perfect competition. D) monopoly.
Under private enterprise, production is guided by _____________________________.
Fill in the blank(s) with the appropriate word(s).