If All Factors of Production That Are Available for Use

question 159

Multiple Choice

If all factors of production that are available for use under current market conditions are being utilized, then the economy has:

• A) economic growth.
• B) comparative advantage.
• C) full employment.
• D) inefficient production.

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Definitions:

Track Inventory

The process of monitoring and managing items in stock to ensure adequate supply without overstocking.

Inventory Card

A document used to track information about an item in inventory, including description, quantity, and location.

Adhesive Flags

Small pieces of paper or plastic that are sticky on one side and are used for marking pages, annotating documents, or organizing information by color-coding.

Comparison Pricing

The practice of comparing prices of products or services to find the most cost-effective option.