Which of the Following Statements About Inputs Is Correct

question 113

Multiple Choice

Which of the following statements about inputs is correct?

• A)A forest is an example of a natural resource;it is also an example of a renewable resource.
• B)There is no distinction between human capital and technological knowledge.
• C)Human capital is a non-produced factor of production.
• D)Physical capital is a non-produced factor of production.

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Definitions:

Government Regulations

Rules or laws established by governments to control and guide the operations of businesses and individuals with the aim of protecting public interest.

Macroeconomics

The branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, including issues like economic growth, inflation, and unemployment.

Normative Statements

Statements that express value judgments or opinions about what ought to be rather than statements of fact.

Positive Theories

Positive theories attempt to describe how the world is, focusing on factual statements and cause-effect relationships without prescribing what actions should be taken.