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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #855797
Introduction to Economics 1 Deneme Sınavı Sorusu #855797
The ...... stands for machinery, equipment, buildings and other tools which are used in the production of goods and services.
Which of the following completes the sentence above?
capital |
labor |
land |
product |
demand |
Yanıt Açıklaması:
One of the factors of production, the capital stands for machinery, equipment, buildings and other tools which are used in the production of goods and services. In economics, as a factor of production, the capital refers to the physical capital, not to the financial capital. Although money is not a factor of production, firms often use credits to buy or hire the capital they use for production, and pay interest in return. The correct answer is A.
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