Which of the Following Resources Earns the Highest Economic Rent

question 82

Multiple Choice

Which of the following resources earns the highest economic rent as a proportion of total earnings?

• A)a resource specialized in one task
• B)a nonspecialized resource
• C)a resource with inelastic demand
• D)a resource with low demand
• E)a resource with unit-elastic demand

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Definitions:

Productivity

The efficiency at which an individual, company, or economy can transform resources into goods, measured by the output per time period.

Creative

The ability or quality of generating innovative ideas, approaches, or solutions.

Emotional Intelligence

The skill to recognize, regulate, and articulate emotions while dealing with others in a considerate and empathetic way.

Management Scholars

Academics or researchers dedicated to studying and advancing the field of management through teaching, researching, and publishing scholarly work.