Which of the following is the best example of land?
A) The ethanol refined from corn.
B) A factory that produces new goods and services.
C) The water used to make a soft drink.
D) A barber's chair.
Correct Answer:
Verified
Q2: In economics,scarcity means that
A)A shortage of a
Q4: Factors of production are
A)Scarce in every society.
B)Scarce
Q6: Given that resources are scarce,
A)A "free lunch"
Q7: The role of the entrepreneur in an
Q8: The "guns versus butter" dilemma that all
Q9: The basic factors of production include
A)Land,labor,money,and capital.
B)Land,labor,money,and
Q9: Economics can be defined as the study
Q10: The opportunity cost of studying for an
Q11: A consequence of the economic problem of
Q20: Opportunity cost is
A)Measured only in dollars and
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