The Term Factor of Production Refers to

question 124

Multiple Choice

The term factor of production refers to

• A)Only those goods that are produced and then used to produce other goods and services.
• B)Labor only.
• C)Any resource input used to produce goods and services.
• D)Factories and machinery only.

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Definitions:

Standard Deviation

A statistic that quantifies the dispersion or spread of a set of numerical data from its mean.

Symmetric

Characterized by or exhibiting symmetry; having identical shape, size, and position on both sides of a dividing line.

Unimodal

Describing a distribution with a single peak or mode.

Stem-And-Leaf Display

A graphical method of displaying quantitative data to show its distribution, using digits to represent the stems and leaves.