What Is a Characteristic of Factors of Production

question 227

Multiple Choice

What is a characteristic of factors of production?

• A) They are used to produce goods and services.
• B) They are owned by firms.
• C) They are abundant in most economies.
• D) They are provided by both firms and households.

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Definitions:

Olive Oil

A liquid fat obtained from olives, commonly used in cooking, cosmetics, pharmaceuticals, and soaps.

Andalusia Region

A geopolitical and cultural region in the south of Spain, known for its historical significance and diverse heritage.

Olive Trees

Perennial plants known for their fruit and oil, significant in culinary, cosmetic, and health products, with cultural and economic importance in many regions.

Market Making

A financial service activity where a firm quotes both buy and sell prices for financial instruments, facilitating liquidity and trading activity in the market.