In the Short Run, ________ Factors of Production Are Fixed

question 123

Multiple Choice

In the short run, ________ factors of production are fixed, while in the long run, ________ of them are.

• A) some; none
• B) all; none
• C) no; at least some
• D) all; at least some

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Definitions:

Poor Countries

Nations characterized by a low standard of living, underdevelopment, and low income per capita, often facing challenges such as limited access to education, healthcare, and resources.

Modernization Theory

A theory suggesting that traditional societies will develop as they adopt more modern practices, technology, and cultural values, leading to similar patterns of social, economic, and political progress among societies.

Dependency Theory

A theory suggesting that economic developments in wealthy nations often lead to continued poverty in poorer countries due to the dependence on the global economic system.

World Systems

A socio-economic concept that views the global economy as a complex system governed by interactions between different countries and regions, categorizing them as core, periphery, and semi-periphery.