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IA

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Production of goods and services require different mixes of resources. Discuss the three different production resource intensities and give examples of each.

On May 10, 2024


Labor-intensive goods are products requiring relatively large amounts of labor to produce. Examples of labor-intensive goods are textiles, electronics, apparel, toys, and sporting goods. Land-intensive goods are products requiring relatively large amounts of land to produce. Examples of land-intensive goods are beef, wool, meat, and vegetables. Capital-intensive goods are products that require relatively large amounts of capital to produce. Examples of capital-intensive goods are airplanes, automobiles, agriculture equipment, machinery, and chemicals.
IA

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The net income for the year (in thousands of dollars) was:

A) $18.
B) $40.
C) $410.
D) $110.

On May 07, 2024


D