5
AssignmentMultiple Select

The Three Questions of Economics

Question 5 • FL-2102340-Economics with Financial Literacy (Teacher Directed)

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.

Answer
A
Economies must consider their limitations when answering the three questions of economics.
B
Land is a factor of production that is limited only by the amount available.
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.
E
An economy can function well when producing outside its limitations.
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