Which of the Following Factors of Production Is Likely to Be

question 104

Multiple Choice

Which of the following factors of production is likely to be fixed in the short run?

• A) The location of the firm.
• B) The number of employee-hours.
• C) The amount of electricity consumed.
• D) The amount of paper used.
• E) The amount of RAM installed on the network server.

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Definitions:

Verification

The process of establishing the truth, accuracy, or validity of something.

Incubation

A period of gestation or development, often in a supportive environment, for new ideas or projects.

PDCA Cycle

A method used in business for continuous improvement, consisting of four phases: Plan, Do, Check, Act.

Action Map

A plan or strategy outlining specific actions required to achieve a particular goal or outcome.