Question

A clothing company wants to expand into new regions. It is looking at an urban area with a large number of vacant warehouses. The population is made up of people with average educations and a lower standard of living. The company is experiencing slower sales but has hopes that product will take off and be successful.
Which of the factors of production will the company need to address most closely when making its decision to expand?

A.land
B.capital
C.land and labor
D.labor and capital

Answer 1

The answer to this question is:

A clothing company wants to expand into new regions. It is looking at an urban area with a large number of vacant warehouses. The population is made up of people with average educations and a lower standard of living. The company is experiencing slower sales but has hopes that product will take off and be successful.



Which of the factors of production will the company need to address most closely when making its decision to expand?
C-"Land and labor"

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Answer 2

The correct answer is Option C) Land and Labor

The clothing company wants to increase sales and is expanding in an urban area to set up a warehouse.

When making its decision, the company needs to find, good land, at a great price which is centrally located.

The idea is to invest the least amount of money for maximum benefits.

Similarily, it needs to expand its production/warehousing facilities in an area where they can find cheap labor thatis readily available.