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 215 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
Great answer, keep it coming :)

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water. A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water.
Growth of Government Spending, 1870–2009 Growth of Government Spending, 1870–2009
Maple syrup is produced by evaporating most of the water from sap collected from maple trees in Maple syrup is produced by evaporating most of the water from sap collected from maple trees in
Determination of the genotype of F2 plants by the production of F3 progeny Determination of the genotype of F2 plants by the production of F3 progeny
Video: Leukemia

For a complete list of videos, visit our video library