In the Market Processes Resources End Up Being Located in Their

question 3

Multiple Choice

In the market processes resources end up being located in their

• A)highest valued use.
• B)next best use.
• C)proper use.
• D)none of these choices.

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Definitions:

Services

Activities or benefits provided to consumers that do not result in the ownership of a tangible product.

Capital

Financial assets or the monetary value of assets, such as buildings and machinery, invested in a business to create more wealth.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Opportunity Cost

The economic impact of dismissing the next prime alternative while reaching a decision.