/ Quiz /

Which of the following best describes what production accomplishes?

  • Question 5c of 10 - Factors of production

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following best describes what production accomplishes?
  • Answers:
  1. An increase in supply that lowers prices.
  2. A reduction in the size of the labor force.
  3. Value added to resources that already exist.
  4. Efficient use of natural resources.

The correct answer is: Value added to resources that already exist. Producers take resources and change them so that they have more value.

      12 total views, 1 views today

Related quizzes


Leave a replyYour email address will not be published. Required fields are marked *