Which of the Following Statements Is False

question 167

Multiple Choice

Which of the following statements is false?

• A) Capital consists of produced goods that can be used as inputs for further production.
• B) The terms resources,inputs,and factors of production are synonyms.
• C) Labor consists of the physical,but not mental,talents of people who contribute to the production process.
• D) Entrepreneurship is one of the four categories of resources.
• E) The resource category land includes natural resources,such as minerals,forests,water,and unimproved land.

---

Definitions:

Capital Account

The capital account records the exchanges of financial assets and liabilities between a country and the rest of the world, including direct investment and loans.

Current Account

A component of a country's balance of payments that includes transactions in goods, services, primary income, and secondary income flows between domestic and foreign entities.

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices.

British Pounds

The currency of the United Kingdom, symbolized as GBP, and commonly referred to as the pound sterling.