When the Factors of Production Are Hired to Produce Output

question 18

Multiple Choice

When the factors of production are hired to produce output, _____.

• A) the costliest resources available in the market are usually employed
• B) the level of spending on goods and services will fall
• C) income is generated for households to spend on goods
• D) firms will use the income they earn to buy goods and services

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Definitions:

Gather Data

The process of collecting information or facts from different sources for a specific purpose, often used in research and analysis.

Replication Study

Research that is repeated exactly, but on a different group of people at a different point in time.

Value-Free Sociology

Value-Free Sociology is a principle advocating for the objectivity of sociologists, arguing that they should study society and social behaviors without allowing their personal biases, beliefs, or values to influence their research.

Objectivity

The practice of maintaining impartiality and neutrality, avoiding bias and subjective influences in research, reporting, and analysis.