Ways in Which Consumers Affect a Nation's Business Include All

question 135

Multiple Choice

Ways in which consumers affect a nation's business include all the following except

• A) purchasing goods and services.
• B) providing necessary business capital.
• C) providing the labour necessary for production.
• D) providing the resources necessary for production.
• E) taxing goods and services.

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Definitions:

Labor Force

The total number of people who are available to work, including both the employed and those seeking employment.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are efficiently used.

Efficiently

The manner in which resources are utilized in the most optimal way to produce goods or services without waste.

Comparative Advantage

An entity's capability to offer a product or service at a reduced opportunity cost than competitors.