The Question of 'How Are Goods and Services Produced

question 251

Multiple Choice

The question of 'how are goods and services produced? ' most closely addresses which of the following issues?

• A)Should Ford build SUVs or luxury cars?
• B)Why are Christmas trees popular only in December?
• C)Should Ford use expensive industrial robots or inexpensive Mexican employees to produce SUVs?
• D)Is income distributed fairly in Australia?
• E)Should contractors build residential housing or shopping malls?

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Definitions:

Exclusive Possession

The legal right to occupy and use property without interference from others, including the owner.

Right of Way

The legal right to pass through property owned by another, or a priority in traffic, allowing certain vehicles or pedestrians to go first.

Estate in Land

The degree, quantity, nature, and extent of interest a person has in real property.

Real Property

Land and anything permanently attached to it, such as buildings and other structures.