An example of a nonrenewable natural resource is Question 6 options: rain Lake Erie oil Question 7 (1 point) Choose the statement that is incorrect Question 7 options: Most capital services are traded in a market Capital is a factor of production A market for capital services is a rental market Question 8 (1 point) Choose the statement that is incorrect Question 8 options: All labour markets are competitive Labour services are the physical and mental work effort that people supply to produce goods and services A labour market is a collection of people and firms who trade labour services Question 9 (1 point) Choose the correct statement about entrepreneurship Question 9 options: Entrepreneurial services are not traded in markets Entrepreneurs are paid a wage rate The market for entrepreneurs is highly competitive Question 10 (1 point) Firms hire labour Question 10 options: to maximize profit to minimize costs to exploit workers