Multiple Choice
Which term describes the assignment of a specific resource to a specific task in the production process?
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0. Basic Principles of Economics
Factors of Production
Back0. Basic Principles of Economics
Factors of Production
- Multiple ChoiceWhich of the following is an effect of an increase in the price of labor on a firm's cost curves?29views
- Multiple ChoiceWhich of the following typically make up a significant portion of labor costs for firms?40views
- Multiple ChoiceWhich factor of production is most directly associated with a firm's ability to communicate with people globally?27views
- Multiple ChoiceWhich of the following is considered a factor of production within a firm's boundaries?20views
- Multiple ChoiceIn which market would a producer buy the equipment and technology needed to manufacture bicycles?34views
- Multiple ChoiceWhich of the following lists correctly identifies the three main factors of production in classical economics?24views
- Multiple ChoiceWhich of the following best describes the labor force in the context of factors of production?23views
- Multiple ChoiceWhich of the following is a factor that influences changes in consumer demand?22views
- Multiple ChoiceAn industry has lowered its labor costs through which of the following methods?35views
- Multiple ChoiceWhich of the following factors of production is most commonly under the direct control of a firm's management and can be adjusted to affect profit?35views
- Multiple ChoiceWhich of the following best describes what economists mean by 'resources' or 'factors of production'?31views
- Multiple ChoiceWhich of the following statements is correct about the roles of economists in relation to the factors of production?34views
- Multiple ChoiceWhich term refers to unprocessed natural resources that are refined into end products?28views
- Multiple ChoiceIn the context of factors of production, suppliers are powerful when:19views