Capital, as economists use the term,
A) is the money the firm spends to hire resources.
B) is money the firm raises from selling stock.
C) refers to the process by which resources are transformed into useful forms.
D) refers to things that have already been produced that are in turn used to produce other goods and services.
Correct Answer:
Verified
Q8: Outputs in the production process are
A) pollution.
B)
Q9: According to the theory of comparative advantage,
Q10: Refer to the information provided in
Q11: Suppose you are deciding whether to spend
Q12: Refer to the information provided in
Q14: Which of the following is not a
Q15: Which of the following does not constitute
Q16: The concept of opportunity cost is based
Q17: The process by which resources are transformed
Q18: If someone has a comparative advantage in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents