If a Factor of Production Can Be Used to Produce

question 4

Multiple Choice

If a factor of production can be used to produce either good A or good B,then A and B are

• A)substitutes in production.
• B)complements in production.
• C)substitutes.
• D)complements.
• E)normal goods.

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Definitions:

Accounts Payable

Money owed by a company to its creditors for goods and services that have been delivered but not yet paid for.

Enter Bills Window

A feature in accounting software where users can input and manage bills they need to pay to suppliers or service providers.

Checking Account

A bank account from which payments can be ordered by the account holder, typically used for day-to-day financial transactions.

Accounts Payable Aging

A report that categorizes a company's accounts payable according to the period of time an invoice has been outstanding, helping to manage debts effectively.