Which of the Following Is a Characteristic of a Process

question 53

Multiple Choice

Which of the following is a characteristic of a process?

• A)a specific, unique purpose
• B)elements of uncertainty
• C)temporary endeavor
• D)recurring in nature

---

Definitions:

Inputs

Resources such as labor, capital, and materials used in the production process to create an output.

Marginal Product

The additional output that is produced by adding one more unit of a specific input while holding all other inputs constant.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Labor

Utilization of human physical and mental capabilities in the generation of goods and services.