In the Long Run,all Factors of Production Are

question 54

Multiple Choice

In the long run,all factors of production are

• A) variable.
• B) fixed.
• C) materials.
• D) rented.

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Definitions:

Differentiated Needs

Distinct and specific requirements of customers or markets that businesses aim to fulfill with customized products or services.

Customizing Products

The process of modifying or tailoring products and services to meet specific customer preferences or requirements.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to organizations.

Strategic Objectives

Long-term goals that an organization seeks to achieve to fulfill its mission and vision.