Industrial Machinery Is an Example of

question 6

Multiple Choice

Industrial machinery is an example of

• A)a factor of production that in the past was an output from the production process.
• B)physical capital.
• C)something that influences productivity.
• D)All of the above are correct.

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Definitions:

Competition Act

Legislation designed to promote fair business practices and protect consumers by preventing monopolies and promoting competition.

Bid-rigging

A form of fraud in which competitors agree in advance who will win a bidding process, thus undermining the competition.

Misleading Advertising

Advertising that deceives or is likely to deceive the consumer, often leading to an incorrect understanding or decision.

Competition Act

A law designed to preserve and promote competition and to protect consumers from anti-competitive practices by companies.