In Porter's Model,a Specialized Factor of Production Would Include

question 57

Multiple Choice

In Porter's model,a specialized factor of production would include

• A)abundant natural resources.
• B)a large workforce.
• C)an extensive highway transportation system.
• D)workers with advanced engineering skills.

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Definitions:

Economic Cost

The total expenses incurred in the production of goods or services, including both direct and indirect costs, as well as opportunity costs.

College-Educated Kids

Individuals who have completed a college-level education, often holding an associate, bachelor's, or higher degree.

Ethnic Category

A classification of people based on common cultural, ancestral, or social traits distinguishing them from other groups.

Premature Opinions

Judgments or conclusions formed before having access to all relevant information or before an event has fully unfolded.