A Factor of Production That Has Been Produced for Use

question 69

Multiple Choice

A factor of production that has been produced for use in the production of other goods and services is:

• A) labor.
• B) money.
• C) capital.
• D) natural resources.

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Definitions:

Taft-Hartley Act

A 1947 US federal law that restricted the activities and power of labor unions, including prohibiting certain types of strikes and requiring union leaders to swear anti-communist oaths.

Legal Primary Boycott

A lawful form of protest or economic pressure in which workers, unions, or consumers refuse to buy or deal with a company directly involved in a labor dispute.

Taft-Hartley Act

A 1947 federal law in the U.S. that restricts the activities and power of labor unions, aiming to balance the rights of employers and employees.

Secondary Boycotts

A form of protest in which a labor union refuses to work for, purchase from, or otherwise do business with a company that does business with another company that is the subject of a strike or boycott.