Which of the Following Statements About Inputs Is Correct

question 113

Multiple Choice

Which of the following statements about inputs is correct?

• A)A forest is an example of a natural resource;it is also an example of a renewable resource.
• B)There is no distinction between human capital and technological knowledge.
• C)Human capital is a non-produced factor of production.
• D)Physical capital is a non-produced factor of production.

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Definitions:

Plantwide Overhead Rate

A single overhead absorption rate used throughout a manufacturing plant, applied to all jobs or products regardless of the department in which they were produced.

Machine Hours

A measure of production time, quantifying the hours a machine is operated in the manufacturing process.

New Belgium Brewing Company

An American brewery known for its craft beers and environmental sustainability practices, including employee ownership and energy-efficient operations.

Direct Labor Hours

The total hours worked by employees who are directly involved in the manufacturing or production process.