In the Context of Factors of Production, Which of the Following

question 64

Multiple Choice

In the context of factors of production, which of the following statements is true of capital?

• A) It includes all inputs that offer value in their natural state.
• B) It does not include money.
• C) It involves the creative contributions of people working within an economy.
• D) It is not a fundamental resource for nonprofits.

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Definitions:

Industry-Specific

Refers to products, services, or standards that are specific to a particular industry or sector.

Restatement of Contracts

A comprehensive compilation of legal principles regarding contract law intended to clarify, modernize, and illustrate current legal practices.

Silence

The absence of any response or acknowledgment, which in some legal contexts can signify agreement or acquiescence.

Legal Object

A legal term referring to the requirement that an agreement or contract must have a lawful purpose to be enforceable.