Consider the following events:
I. Samsung hires associates to market their HDTV sets to Best Buy.
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 labor, capital, and natural resources. I (labor for marketing), II (capital for stadium), III (labor reduction), and V (use of land for a state park) all involve the use of factors of production. IV does not directly involve the use of factors of production as it describes a trading activity.

Consider the Following Events