National Characteristics That Affect the Cost of Producing Goods in a Particular

question 45

Multiple Choice

National characteristics that affect the cost of producing goods in a particular country include all of the following except:

• A) natural resources and climate.
• B) endowment of factors of production.
• C) technology.
• D) proper government oversight of production.

---

Definitions:

Variance

A measure of the dispersion of a set of data points around their mean, indicating how spread out the data points are.

Data

Facts and statistics collected together for reference or analysis, often seen as the basis for decision making or scientific research.

Sum of Squared Scores

The total obtained by squaring each deviation from the mean in a set of scores and then summing these squares, used to measure data variability.

Data

Data gathered for the purposes of reference or examination.