Which of the Following Are the Three Major Categories of Resources

question 27

Multiple Choice

Which of the following are the three major categories of resources?

• A) physical capital,technology,institutions
• B) land,labor,technology
• C) institutions,human capital,land
• D) natural resources,physical capital,human capital
• E) labor,physical capital,technology

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Definitions:

Mixers

Devices used for blending ingredients together, commonly found in cooking, baking, and cocktail making.

Diseconomies of Scale

A condition in which a firm’s average costs increase as production increases.

Returns to Scale

The change in output as a result of proportionately changing all inputs in the production process, indicating increasing, constant, or decreasing returns.

Marginal Cost

An uplift in the sum total of costs incurred by producing another unit of a product or service.