Which of the Following Is Typically a Variable Factor of Production

question 77

Multiple Choice

Which of the following is typically a variable factor of production?

• A)Land
• B)Equipment
• C)Plant
• D)Labor
• E)Money

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Definitions:

Open Systems

Open Systems refer to organizations or entities that interact with their environment, exchanging information, resources, and energy.

External Environment

Factors outside of an organization that can affect its performance, including economic, social, technological, and political conditions.

Environmental Impact

The effect or influence of human activities on the natural environment, including changes to ecosystems, biodiversity, and climate.

Increasing Uncertainty

The situation in which the amount of unpredictability in the environment or the future outcomes of decisions is rising.