Which of the Following Is a Reason for Diminishing Rather

question 81

Multiple Choice

Which of the following is a reason for diminishing rather than constant returns to specialization?

• A)All resources are of the same quality.
• B)Resources can shift from the production of one good to another seamlessly.
• C)Each country has a fixed stock of resources.
• D)Different goods use different resources in different proportions.
• E)Trade does not affect the distribution of income within a country.

Master the legal standards expected of experts, including the level of skill, care, and caution required in their professional conduct.

Grasp the liability of occupiers for injuries on their property due to negligence or failure to maintain a safe environment.

Differentiate between true statements and misconceptions regarding the law of negligence and the defenses available.

Recognize the principles governing insurance contracts, the collection of claims, and the interpretation of ambiguous clauses in favor of the insured.

---

Definitions:

Revenue Account

An account in financial accounting used to record income generated by a company's ordinary activities.

Net Income

Represents the total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, closing out the revenue and expense accounts.

Post-closing Trial Balance

A financial statement prepared after all adjusting and closing entries are made, ensuring the total debits equal total credits.