Economists Classify Energy and Water as Part of Which Factor

question 125

Multiple Choice

Economists classify energy and water as part of which factor of production?

• A) land
• B) labor
• C) capital
• D) entrepreneurship
• E) land if undeveloped and capital if developed

Explore the influence of cultural and societal norms on family structures and child development.

Understand the family living arrangements of school-age children and the functioning of adoptive families.

Grasp the basics of Kohlberg's theory of moral development, including the preconventional and conventional levels.

Comprehend the impact of family conflict on children and the importance of adequate family income for enhancing family functions.

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Definitions:

Total Quantity

The overall amount or volume of a product or resource available or produced.

Unit of Output

The measurement of what is produced or accomplished within a given timeframe or per cycle of operation, typically associated with productivity.

Entrepreneurial Ability

The human resource that combines the other economic resources of land, labor, and capital to produce new products or make innovations in the production of existing products; provided by entrepreneurs.

Economic Profit

The surplus remaining after subtracting total costs, including both explicit and implicit costs, from total revenues, indicating the profitability of a business beyond breaking even.