This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A factor of production refers to any good or service that is: A) produced by the government. B) ... (Read 100 times)

fox

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
A factor of production refers to any good or service that is:
 
  A) produced by the government.
  B) produced in a competitive market.
  C) used to produce other goods and services.
  D) produced using scarce economic resources.

Question 2

Ted can study for his economics exam or go to a concert. He decides to study for his economics exam instead of going to the concert. The concert he will miss is Ted's ________ of studying for the exam.
 
  A) opportunity cost
  B) explicit cost
  C) implicit cost
  D) discretionary cost


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akpaschal

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


fox

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

diana chang

  • Member
  • Posts: 288
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Texaco, which produced this poster, used a racist caricature to discourage absenteeism among ... Texaco, which produced this poster, used a racist caricature to discourage absenteeism among ...
Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
Fossil fuels production Fossil fuels production
Structures of Voice Production Structures of Voice Production
Complete the following production chart and plot the points. Complete the following production chart and plot the points.
A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ... A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ...
Video: Gastrin (gastric emptying) & Secretin (buffering gastric acid)

For a complete list of videos, visit our video library