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:

Experimental Design

A systematic approach to conducting experiments, ensuring that the manipulation of variables is controlled and the results are valid and reliable.

College Student Samples

College student samples are groups of college students used in social science research to study behavior, attitudes, or opinions, often criticized for lacking generalizability.

Prison Inmates

Individuals confined within a correctional facility serving time for crimes they have been convicted of.

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