Economists Refer to the Inputs That Firms Use to Produce

question 213

Multiple Choice

Economists refer to the inputs that firms use to produce goods and services as

• A)derived factors.
• B)derived resources.
• C)factors of production.
• D)instruments of revenue.

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Definitions:

Eurocentric

A viewpoint that prioritizes or overly emphasizes the importance of European culture or perspectives, often at the expense of other cultures.

Ethnocentric

Evaluating other cultures according to preconceptions originating in the standards of one's own culture.

Globalization

The method through which companies or various organizations gain international impact or begin functioning globally.

Socio-Cultural Changes

This term refers to transformations in society and culture over time, often due to factors like technology, migration, and changing values.