Question

What determines the value of an item? It’s A

Answer 1

Group of answer choices:

A) The amount of goods that are produced.

B) The capital required to build the factory.

C) The unlimited wants of the consumers.

D) The resources consumed in production.

Answer:

The correct answer is letter "A": The amount of goods that are produced.

Explanation:

An item's value is determined by the cost of producing the good. The more items made, the lesser the item's value will be. This is because the manufacturing costs must be distributed in a form that makes the company end with profits. If lesser goods are produced, the firm will charge consumers more to cover expenses and make a profit. While more goods are produced, the organization will not be in urgent need to charge higher for the same product.

Answer 2

The resources used up in production.

If a product takes little time and resources to make, it will cost less than something that takes a lot of resources an longer times to produce.