A Factor of Production Refers to Any Good or Service

question 214

Multiple Choice

A factor of production refers to any good or service that is ________.

• A) produced by the government
• B) produced in a competitive market
• C) used to produce other goods and services
• D) produced using scarce economic resources

---

Definitions:

Biotransformation

The process by which a substance changes from one chemical to another (metabolized) by the body.

Wernicke-Korsakoff Syndrome

A chronic memory disorder caused by severe deficiency of thiamine (vitamin B1), typically associated with prolonged alcohol abuse.

Cocaine

A powerful stimulant drug derived from the coca plant, known for its psychoactive effects, including increased energy and alertness.

Heroin

An opioid drug made from morphine, a natural substance taken from the seed pod of the various opium poppy plants, highly addictive and illegal.