Examlex
Which of the following is false?
Goods and Services
Refers to tangible products and intangible activities that fulfill the needs or wants of consumers.
Factors of Production
Resources used in the production of goods and services, including labor, capital, land, and entrepreneurship.
Human Capital
The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization or society.
Production Possibilities
The various combinations of goods and services that can be produced within an economy given available resources and technology.
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