195) What is production?
A) material items or products that customers will buy to satisfy a want or need
B) tasks performed by people that customers will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
D) the rate at which goods and services are produced based upon total output given total inputs
196) What is productivity?
A) material items or products that customers will buy to satisfy a want or need
B) tasks performed by people that customers will buy to satisfy a want or need
C) the process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
D) the rate at which goods and services are produced based upon total output given total inputs
197) Cars, groceries, and clothing belong in which category?
A) goods
B) services
C) production
D) productivity
198) Teaching, waiting tables, and cutting hair belong in which category?
A) goods
B) services
C) production
D) productivity
199) Which of the following is considered a good?
A) cars
B) groceries
C) clothing
D) All of the answers are correct.
200) Which of the following is considered a service?
A) teaching
B) waiting tables
C) cutting hair
D) All of the answers are correct.
201) Which of the following is considered a good?
A) cars
B) teaching
C) waiting tables
D) All of the answers are correct.
202) Which of the following is considered a service?
A) cars
B) groceries
C) cutting hair
D) All of the answers are correct.
203) Which of the following is considered goods?
A) milk and eggs