Consider the following events:
i. Samsung hires associates to market their HDTV sets to BestBuy.
ii. The Dallas Cowboys build a new football stadium.
iii. Ebay fires 10 percent of its workforce.
iv. Ten million stocks were traded on the New York Stock Exchange in one day.
v. Pennsylvania builds a new state park.
Which of the events describe use of factors of production.?

Question

Quizplus · Accepted Answer

Factors of production include land, labor, capital, and entrepreneurship. Events i, ii, iii, and v involve the use of these factors: hiring associates (labor), building a stadium (capital), firing workforce (labor), and building a state park (land and capital).

Consider the Following Events