Which statements correctly identify limitations of the factors of production? Check all that apply.Economies must consider their limitations when answering the three questions of economics.Land is a factor of production that is limited only by the amount available.Capital includes all money and physical facilities needed to create a product.Labor is a factor driven by the size of the population, education, and standard of living.An economy can function well when producing outside its limitations.

Question

Revolt · Accepted Answer

A: Economies must consider their limitations when answering the three questions of economics.; C: Capital includes all money and physical facilities needed to create a product.; D: Labor is a factor driven by the size of the population, education, and standard of living.

The Three Questions of Economics Answers

More from this Course

TRY EDGENUITY HACKS