Factors of Production Are

question 68

Multiple Choice

Factors of production are:

• A)inputs and outputs.
• B)outputs only
• C)inputs only
• D)the minimum set of inputs that can produce a certain fixed quantity of output.

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Definitions:

Borrowed Money

Funds that have been obtained through loans or debt, which typically incur interest charges and are required to be repaid.

Competitive Strategy

Approaches that a company adopts to gain an edge over its competitors, such as cost leadership, differentiation, or focus strategies.

Foreign Firms

Describes companies that are incorporated or headquartered in a country different from where they operate or do a significant portion of their business.

Canadian Companies

Business entities registered, established, or operating under the laws and regulations of Canada.