When We Compare the Factors of Production in Wealthy and Poor

question 85

Multiple Choice

When we compare the factors of production in wealthy and poor nations, we find:

• A) poor nations have plenty of land and knowledge, but very little labor.
• B) poor and wealthy nations (both) have an abundance of knowledge, it is the land that varies, with rich nations always having more.
• C) wealthy nations have knowledge and entrepreneurial opportunities, while poor nations are often lacking in these areas.
• D) wealthy nations have land and labor, while poor nations have capital and entrepreneurship.

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Definitions:

Personality Theory

A system of concepts that seeks to explain the variations in individual behavior through the study of distinct personality types and traits.

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The process of evaluating and interpreting an event or situation that leads to specific reactions on a psychological level.

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The physical and emotional strain caused by the pressures and demands of the workplace.