Answer:
B. all the resources used to produce any goods and services
Explanation:
Factors of production are all the resources used in the production of new goods and services. They are the inputs that go into the production process. Factors of production are classified into four, including land, labor, capital, and entrepreneurship.
<em>Option A</em> represents <u>labor</u>, which is the human contribution in the production process. Human beings contribute skills, time, and energy and get rewarded with salaries and wages.
<em>Option C,</em> which is all the physical tools and equipment used in the production process, represent<u> capital. </u>
<u>Land</u> in economics will refer to farmlands, business premises, air, and natural resources, which <em>option D</em> describes.
Entrepreneurship is the process of forming a business that undertakes production by binging together the inputs. The entrepreneur is the person who starts the business.
Answer:
A
Explanation:
A middleman is a link between a producer and a consumer. Middlemen includes wholesalers and retailers
Some of the functions of middlemen include
1. They provide information to the producers about consumers' tastes
2. they market producers goods and services
3. Middlemen render financial help to manufacturers.
Answer:
4) C) software that requires a high annual subscription whether you want the updates or not
Explanation:
Answer: $51
Explanation:
A, B, C, D, E, F, G were purchased for $2.50 per letter which means they cost;
= 7 * 2.50
= $17.50
H to L were purchased at $4.50 per letter which means they cost;
= 5 * 4.5
= $22.50
M to R were purchased at $5.50;
= 6 * 5.5
= $33
Total inventory cost = 17.50 + 22.50 + 33 = $73
Inventory sold = 2.5 + 2.5 + 2.5 + 4.5 + 4.5 + 5.5
= $22
Ending Inventory = Total inventory - inventory sold
= 73 - 22
= $51
