Multiple Choice
Which of the following situations best illustrates when a resource is considered valuable in economics?
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0. Basic Principles of Economics
Factors of Production
Back0. Basic Principles of Economics
Factors of Production
- Multiple ChoiceWhich three factors of production are interrelated such that a change in one often leads to changes in the others?38views
- Multiple ChoiceWhich of the following best explains why producers choose to specialize?39views
- Multiple ChoiceWhich of the following is a reason for changes in buyer tastes, affecting the demand for factors of production?42views
- Multiple ChoiceWhy might higher interest rates deter a firm from building a new factory?50views
- Multiple ChoiceWhich of the following lists correctly identifies the four main factors of production in economics?35views
- Multiple ChoiceEconomic factors in decision making fall under the category of __________.41views
- Multiple ChoiceWhich of the following correctly arranges the types of economies from least government involvement to greatest government involvement?44views
- Multiple ChoiceIn the context of factors of production, what two requirements of supply must someone meet to be considered a producer?39views
- Multiple ChoiceWhich of the following best describes 'capital' as a factor of production?48views
- Multiple ChoiceIn the context of factors of production, how does the control of resources differ between a market economy and a command economy?54views
- Multiple ChoiceWhich statement about economic resources is accurate?43views
- Multiple ChoiceWhich of the following would NOT be considered a capital resource by economists?42views
- Multiple ChoiceWhich of the following is NOT considered a factor that affects worker productivity?32views
- Multiple ChoiceWhich of the following is the case where capacity is measured in terms of inputs?42views