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Economics
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29 Oct 2020

Which one of the following is a factor of production?

  1. Labor
  2. Capital
  3. Technology
  4. All of the above

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Microeconomics
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Define and Explain Types of Costs and Profit
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Paramjeet Chawla
Paramjeet ChawlaLv8
29 Oct 2020

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Related questions

Which of the following is/are a factor of production?

Ā 

a) Land.

b) Labor.

c) Capital.

d)Entrepreneur.

e) All of the above.

Ā 

An outward shift of an economy's production possibilities curve is caused by:

A) An increase in capital

B) An increase in labor

C) An advancement in technology

D) All of the above

Countries A and B have two factors of production, capital, and labor, with which they can produce two goods X and Y. Technology is the same in the two countries. X is capital intensive; A is capital abundant. Analyze the effect on the terms of trade and on the two counties' welfare (including factor payments) of the following:

1. An increase in A's capital stock

2. An increase in A's labor supply

3. An increase in B's capital stock

4. An increase in B's labor supply

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