Which of the following is an economic resource? (LO3) a) gold b) scarcity c) labor d) rent

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Which of the following is an economic resource? (LO3)

a) gold

b) scarcity

c) labor

d) rent

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 28, 2024 02:02 AM

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Which of the following is an economic resource? (LO3) a) gold b) scarcity c) labor d) rent

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The answer is c labor Heres why the other options are not economic resources a Gold While gold is a valuable commodity its not directly used in the production of goods and services itself It can be used as a financial asset but not as an economic resource ...View the full answer

Microeconomics

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