Goods and Services Are Produced by Using Four Factors of Production

question 29

Multiple Choice

Goods and services are produced by using four factors of production:

• A) land, labor, capital, and entrepreneurship.
• B) land, labor, money, and equipment.
• C) natural resources, human resources, financial assets, and entrepreneurial resources.
• D) labor, human capital, physical capital, and financial capital.
• E) land, labor, capital, and money.

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Definitions:

Developmental Crisis

A critical period of transition or conflict in an individual's life, which requires a significant adjustment or change in the developmental process.

Intimacy Versus Isolation

A stage in Erik Erikson's theory of psychosocial development where young adults face the challenge of forming close relationships with others or experiencing loneliness and isolation.

Shared Household

A living arrangement where two or more individuals who are not part of the same family share living spaces and resources.

Cohabitation

Living together in a romantic relationship without being married.