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:

Stress Management Strategy

A set of techniques and programs aimed at controlling a person's level of stress, especially chronic stress, to improve everyday functioning.

Physical-Fitness Program

A structured regimen or plan designed to improve an individual's physical health and performance.

Economies of Scale

Reductions in the average cost of a product due to increased production levels.

Diseconomies of Scale

An increase in production costs as the scale of production goes up, leading to reduced efficiency.