All of the Following Are Examples of Equilibrium Factor- Price

question 19

Multiple Choice

All of the following are examples of equilibrium factor- price differentials, EXCEPT:

• A) higher pay to a dentist than to a dental hygienist.
• B) the wages earned by labour of varying ability.
• C) the prices of two pieces of land, one with a good supply of water and one without.
• D) the difference in average wages in Toronto and Dryden, Ontario.
• E) an income differential that induces increased rates of entry into the higher paid professions.

---

Definitions:

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Distribution

The process of taking goods from production to consumption.

Production to Consumption

The process that encompasses all stages from the creation of goods and services to their final use by consumers.

Standardization

The process of implementing and developing technical standards to ensure consistency and compatibility of products and services.