Which of the Following Best Defines Capital as a Factor

question 329

Multiple Choice

Which of the following best defines capital as a factor of production?

• A) the gifts of nature that businesses use to produce goods and services
• B) the knowledge and skills that people obtain from education and use in production of goods and services
• C) financial assets used by businesses
• D) instruments, machines, and buildings used in production

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Definitions:

Time Series

A series of data points, usually made up of consecutive observations recorded during a period of time.

Seasonal Variation

Fluctuations in data or economic activity that occur at regular intervals due to seasonal factors.

Exponentially Smoothed Sales

A forecasting method applying exponentially decreasing weights over past observations to predict future sales.

Mattress Sales

The commercial activity of selling mattresses to consumers, often influenced by factors like comfort, price, and brand.