Which of the Following Statements About Factors of Production Is

question 263

Multiple Choice

Which of the following statements about factors of production is the most accurate?

• A) The five factors of production are energy, capital, labor, leadership, and money.
• B) Wealth creation in poor nations is slowed by chronic shortages of labor.
• C) Each of the factors of production is equally important in creating wealth.
• D) Entrepreneurship and knowledge are the most important in creating wealth.

---

Definitions:

Seasonal Index

Seasonal index refers to a numerical value that is assigned to specific time intervals to measure the seasonal pattern or variation in a data set over a period.

Deseasonalized

Deseasonalized data refers to the removal of seasonal effects from a time series to better identify trends and other underlying patterns.

Seasonal Index

A coefficient that modifies data to account for seasonal effects, facilitating more accurate trend analysis over time.

Forecasted Sales

Predicted revenues that a company expects to earn in a future period based on historical data, market trends, and analysis.