The value of an entrepreneur’s resources that she uses in production are known as:

Related MCQs

• If all resources used in the production of a product are increased by 20 percent and output increases by 20 percent, then there must be:
• Allocation of available resources among alternatives is based on the principle
• In which production function, the degree of homogeneity is always one
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• ……………forecasting is more important from managerial view point as it helps the management in decision making with regard to the firms demand and production.
• The short run production function is called;
• The function of combining the other factors of production is done by
• The factors used in the production
• Production may be defined as an act of:
• …………is called produced means of production