Economists Refer to the Inputs That Firms Use to Produce

question 213

Multiple Choice

Economists refer to the inputs that firms use to produce goods and services as

• A)derived factors.
• B)derived resources.
• C)factors of production.
• D)instruments of revenue.

---

Definitions:

Ordinance of 1784

A law drafted by Thomas Jefferson that regulated land ownership and defined the terms by which western land would be marketed and settled; it established stages of self-government for the West. First Congress would govern a territory; then the territory would be admitted to the Union as a full state.

Slavery

A system where individuals are owned by others, deprived of personal freedom and compelled to work without wages.

Urban

Pertaining to cities or towns; characterized by higher population density and vast human features in contrast to rural areas.

Seacoast Cities

Urban areas located directly on the coast or shoreline, often characterized by their significant roles in trade, shipping, and economic development due to their access to maritime routes.