_____ Is the Combining of Natural Resources, Human Resources, and Capital

question 127

Multiple Choice

_____ is the combining of natural resources, human resources, and capital to produce goods and services.

• A)Production
• B)Marketing
• C)Specialization
• D)Utilization
• E)Mechanization

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Definitions:

Inventory

The complete quantity of products and supplies kept in inventory by a company, aimed for either sale or manufacturing activities.

Depreciation

Depreciation is the allocation of the cost of a tangible asset over its service life, reflecting the decrease in value due to wear and tear, age, or obsolescence.

Net Investment

The difference between total investment in new physical assets and depreciation on existing assets, indicating the net increase in the capital stock of an economy.

Economy

A system of production, distribution, and consumption of goods and services within a region or country.