Factors Tend to Be Specific to Certain Uses and Products

question 21

Multiple Choice

Factors tend to be specific to certain uses and products

• A) in capital-intensive industries.
• B) in labor-intensive industries.
• C) in the short run.
• D) in countries lacking fair labor laws.
• E) in countries lacking comparative advantage.

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Definitions:

Saving

The process of setting aside a portion of current income for future use, either by depositing the money in a bank or investing in various financial assets.

Disposable Income

The amount of income left for spending or saving after taxes and other deductions have been subtracted.

Saving

The act of setting aside a portion of one’s income for future use, instead of spending it immediately.

Disposable Income

After subtracting income taxes, disposable income is the money remaining for individuals or households to spend or save.