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

question 143

Multiple Choice

In the context of factors of production, which of the following is most likely to result in a decrease in entrepreneurial activities?

• A) High taxation
• B) Limited regulation
• C) An increase in global trading
• D) Private ownership of the means of production

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Definitions:

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification, which can be either upward or downward in nature.

Meritocratic Mobility

The movement of individuals within or between social strata in a society based on their abilities, talents, and merits rather than on class privilege or wealthy heritage.

Social Capital

The networks, relationships, and norms that facilitate collective action and contribute to the social cohesion of a community.

Employment Income

The compensation received by individuals for their labor or services, typically in the form of wages, salaries, or commissions, constituting a primary source of personal income.