The difference between iron ore deposits and the steel produced from these deposits that is later used to make factory equipment illustrates the difference between:
A) labor and a natural resource.
B) labor and capital.
C) a natural resource and capital.
D) a natural resource and entrepreneurship.
Correct Answer:
Verified
Q27: One of the two criteria for a
Q28: A person who seeks to earn profits
Q29: Who may benefit from technological progress?
A) consumers
B)
Q30: The textbook classifies technology as _ and
Q31: The set of acquired skills and abilities
Q33: Knowledge that can be applied to the
Q34: Improvements in technology provide benefits to:
A) consumers,
Q35: Two components of labor are:
A) residential location
Q36: The production possibilities curve represents the fact
Q37: Technology is:
A) knowledge that can be applied
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