Factor Market Analysis Could Not Be Complete Without Some Characterisation

question 1

Multiple Choice

Factor market analysis could not be complete without some characterisation of:

• A)the marginal productivities of the different factors
• B)market prices for final goods and services
• C)product market demand
• D)all of the above

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Definitions:

Labor-intensive Business

A business that requires a high level of manual labor input compared to capital investment, typically characterized by a significant proportion of operational costs being attributed to human labor.

Capital-intensive Business

A type of business that requires significant investment in capital assets like machinery and equipment, often associated with manufacturing industries.

Service-intensive Business

A type of enterprise that primarily offers services rather than goods, requiring a high level of customer interaction and support.

Startups

Newly established businesses, typically in the technology sector, focused on a unique product or service.