Any Consideration of Where to Locate Production Can Be Based

question 46

True/False

Any consideration of where to locate production can be based on labor considerations alone.

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Definitions:

Households

The consuming units in an economy.

Factors Of Production

The inputs used in the creation of goods or services; traditionally includes land, labor, capital, and entrepreneurship.

Capital

Funds or financial assets leveraged by companies to fund their operations and grow their businesses.

Profit

The earnings obtained when the income generated from business operations is higher than the expenses, costs, and taxes required for these operations.