Economic Resources Are Also Known As

question 184

Multiple Choice

Economic resources are also known as:

• A) elements.
• B) financial capital.
• C) factors of production.
• D) building blocks.

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Definitions:

Fixed Assets

Long-term tangible assets held for business use and not expected to be converted to cash in the short-term.

Operating Costs

Expenses associated with the ongoing operations of a business, such as wages, rent, and utilities, excluding costs linked to producing goods.

Computer System

An integrated set of hardware and software designed to process, manage, and store data.

Capital Cost Allowance (CCA)

A tax deduction in Canada that represents a business’s investment in depreciable property.