In economics the term factors of production refers to all the resources required to produce goods and services. A paper company might need, among many other things, trees, water, a large factory full of heavy machinery, a warehouse, an office building, and delivery trucks. It might require a thousand workers to run the factory, take orders, market (or sell) the paper, and deliver it to wholesalers or retail stores. It might need thousands more resources of varying size and cost. Some of these items, such as workers’ skills, might be intangible. Together, these resources constitute the factors of production necessary for the paper company to do business.
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The correct answer is: "Purchasing Power Parity"
The theory of the Purchasing Power Parity is used to compare the cost of life and living standards between two countries that use two different currencies. This is done by comparing two curriencies through a basket of goods, by comparing their market prices and, therefore, how they are valued under each currency. This enables to conclude how much of each currency you need to purchase an specific product (a bike) and hence, the purchasing power of consumers who hold that currency.
Answer:
The probability that all the officers are women is 
Explanation:
Given a committee consisting of 8 women and 12 men, from which 3 committee members are to be chosen as officers from a committee.
The total number of committee members is 8 + 12 = 20 members
C(n,r) = 
which represents the number of combinations of taking r objects out of n.
The probability that all the officers are women = C(8,3) / C(20,3)
= 
=
=
Therefore the probability that all the officers are women is
