Which of the Following Correctly Lists the Categories of Factors

question 88

Multiple Choice

Which of the following correctly lists the categories of factors of production?

• A) machines, buildings, land, and money
• B) hardware, software, land, and money
• C) capital, money, and labor
• D) owners, workers, and consumers
• E) land, labor, capital, and entrepreneurship

Differentiate between the id, ego, and superego.

Describe the role of the unconscious mind in human behavior and personality.

Recognize how Freud’s theory applies to behavior and personality traits.

Explain the concept of the pleasure principle and its association with the id.

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Definitions:

External Benefits

Benefits from an economic activity experienced by parties not directly involved in the transaction, often leading to positive spillovers in society.

Subsidizing Production

The act of providing financial support to companies or industries to reduce the cost of producing goods or services, often to encourage production or lower prices for consumers.

External Costs

Costs that affect parties who are not directly involved in the production or consumption of a good or service, often leading to market failures.

Underproduce

The act of producing less than is demanded or expected, often leading to shortages and increased prices.