What Are the Four Factors of Production That Combine to Contribute

question 76

Multiple Choice

What are the four factors of production that combine to contribute to the wealth of nations?

• A) incentives,institutions,organization,and technical knowledge
• B) international trading partners,natural resources,efficient government,and low taxes
• C) human capital,physical capital,technical knowledge,and organization
• D) property rights,honest government,political stability,and a dependable legal system

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Definitions:

Unilateral Contract

A contract in which one party makes a promise in exchange for an act by another party.

Bilateral Contract

An agreement between two parties where each party makes a promise to the other, with obligations and benefits on both sides.

Express Contract

A contract in which the terms of the agreement are explicitly stated by the parties, either verbally or in writing.

ESIGN

The Electronic Signatures in Global and National Commerce Act, a federal law that facilitates the use of electronic records and signatures in interstate and foreign commerce.