Examlex
Which of the following is a factor of production?
Government Size
Refers to the scope and scale of government operations and activities, including public spending, taxation, and the number of employees.
Tax-Transfer Activities
Government actions involving the collection of taxes and redistribution of income through spending and transfers to achieve economic objectives.
Opportunity Costs
The loss of potential gain from other alternatives when one alternative is chosen, representing the cost of forgone options.
Goods And Services
The physical items (goods) and activities (services) that satisfy human wants or needs and are available for purchase.
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