Which of the Following Is Correct with Respect to the Factors

question 161

Short Answer

Which of the following is correct with respect to the factors of production?
The "labour" factor recognizes that it is importance to have labour unions to offset the power of management.
"Capital" is a more important factor than "labour."
As the Canadian economy has become larger and more complex, the importance of entrepreneurs has declined.
Unlike land, labour, and capital, information can be shared without it being diminished.
Human resources is an example of the "natural resources" factor.

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Definitions:

Hedonic Pleasure

A type of pleasure derived from immediate gratification or the experience of enjoyable sensations.

Eudaimonic Pleasure

A sense of fulfillment or well-being that comes from pursuing meaningful goals and living in accordance with one's values and potentials.

Autonomy

The capacity to make an informed, uncoerced decision or the quality of having independence or self-governance.

Genetically Determined

pertains to traits or characteristics that are influenced by genes inherited from one's parents.