6
AssignmentMultiple Select

Resources and Scarcity

Question 6 • * HSA 26-27 Economics

Which statements correctly identify limitations of the factors of production? Check all that apply.Economies must consider their limitations when answering the three questions of economics.Land is a factor of production that is limited only by the amount available.Capital includes all money and physical facilities needed to create a product.Labor is a factor driven by the size of the population, education, and standard of living.An economy can function well when producing outside its limitations.

Answer
A
Economies must consider their limitations when answering the three questions of economics.
B
Land is a factor of production that is limited only by the amount available.
C
Capital includes all money and physical facilities needed to create a product.
D
Labor is a factor driven by the size of the population, education, and standard of living.
E
An economy can function well when producing outside its limitations.
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