Developing countries tend to use ______ production methods.
a. labor-intensive
b. capital-intensive
c. highly technical
d. completely automated
a. labor-intensive
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The productive resource that includes all the "gifts of nature" is called
A) land. B) labor. C) capital. D) entrepreneurshi
When the supply of a good decreases and the demand for the good remains unchanged, consumer surplus
a. decreases. b. is unchanged. c. increases. d. may increase, decrease, or remain unchanged.
Marginal revenue at the profit-maximizing/loss-minimizing amount is
A. $4.
B. $12.
C. $14.
D. $20.
Derived demand means
A. labor demand will shift about in a random fashion. B. labor demand is derived from demand for the product it produces. C. labor demand is determined by the supply of labor. D. the labor demand curve will be upward sloping.