Author Question: In economic terminology, when a resource is used to produce output it is referred to as A) an ... (Read 61 times)

karateprodigy · **on:** Jun 29, 2018

In economic terminology, when a resource is used to produce output it is referred to as

A) an intangible.
B) a factor of production.
C) a service.
D) a fifth element.

Question 2

Wants are

A) another term for needs.
B) the things people would consume if they had unlimited incomes.
C) the things people consume with their income.
D) all the things people really need in order to live comfortably.