Economics

What is labor as a factor of production?

An economy controlled by a central authority.

Government policies can affect financial markets.

The factors of production include:

Opportunity cost is the cost of obtaining one more of an item.

In a market economy, prices and wages are determined by:

What is capital as a factor of production?

China is an example of a nation with a command economy.

Which is not a type of economic system?

Intermediary between savers and borrowers.

Deciding which goods and services to use due to limited resources and unlimited wants is called

An economy controlled by the marketplace.

Which of the following is NOT a depository institution?

Everything we make requires the four factors of production.

The opportunity cost of going to the market instead of the movies is:

Who would be an entrepreneur?

What you give up to get something else.

An individual who starts a new business is an example of labor as a factor of production.

The resources needed to produce goods and services.

What is land as a factor of production?