A Fixed Factor of Production Is Defined in the Text

question 213

Multiple Choice

A fixed factor of production is defined in the text as one:

• A) that exists in nature and there is only so much of it.
• B) that can be used for one thing only.
• C) that can never produce more or less in any time period.
• D) whose quantity cannot be changed in a particular period.

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Definitions:

Selected Alternative

The option that has been chosen after the consideration of various possibilities in a decision-making process.

Emotions Affect

The influence that feelings have on an individual's thinking and behavior.

Evaluating Alternatives

This is the process of systematically assessing different options or courses of action in decision-making to determine the most suitable or optimal choice based on criteria.

Making Preferences

The act of choosing or prioritizing among various options based on personal tastes, values, or expected outcomes.