1. As a factor of production, how is a capital created?

1 answer:

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1. As a factor of production, how is a capital created? - d. By using labor to create services
3. If consumers start to believe they need a product, what is likely to happen? - b. the demand becomes more elastic
4. Which of the following commodities is a good? - b. a desk
5. If your company uses a nonprice competition strategy, what should you focus on? - b. differentiation
6. A market economy is regulated by the interactions between which two things? - b. producers and consumers
7. If the demand for a product decreases, what is likely to happen? - d. the price is likely to decrease
8. A producer is someone who a. makes a commodity available for sale or exchange
9. 9. Which of the following is an indirect competitor for a company that makes chocolate chip cookies? - d. a company that makes brownies
10. What is likely to happen if the price of a product goes up? - c. the demand is likely to cause scarcity
11. what does scarcity force people to do? - d. increase inflation
12. which f the following is a sign of a strong economy? - a. an increase in GDP
13. in capitalism, what does competition do for consumers? - b. it prevents consumers from being entrepreneurs
14. what is an increase in competition likely to do to the demand? - d. make the demand more elastic
15. If a planned economy, prices of commodities are controlled by c. the government

I don't know whether all of these are correct, sorry. :/

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