Which of the Following Statements About Economic Resources Is True

question 13

Multiple Choice

Which of the following statements about economic resources is true?

• A)Economic resources include financial capital and money.
• B)Economic resources are also called factors of production.
• C)Economic resources are used only by businesses.
• D)All economic resources are man-made.

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Definitions:

Market Development

A strategic business growth technique that involves selling existing products in new markets or new geographical areas.

Existing Products

Goods or services that are currently available to consumers from a business.

Value Delivery Network

The collaboration between a company, its suppliers, and its distributors to produce and deliver products to the final customer efficiently.

Socio-cultural Factors

Elements that influence one's lifestyle and preferences, including family, education, religion, and social class, which marketers use to segment and target audiences.