An Understanding of the Best Ways to Produce Goods and Services

question 174

Multiple Choice

An understanding of the best ways to produce goods and services is called

• A)human capital.
• B)physical capital.
• C)technology.
• D)productivity.

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Definitions:

Assets

Resources owned or controlled by a business or an individual that are expected to produce future economic value.

Liabilities

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

Fees Earned

Income earned from providing services before receiving payment.

Rent Revenue

Income earned from leasing out property or space to tenants.