"The four factors of production are needed in an efficient market to provide goods and services at an affordable price at the right time, place and mix,"... "Missing the calibration of these factors can be disastrous for the supplier and consumer." The supplier may face higher costs of production, forcing them to charge a higher price to the consumer or risk going out of business. Source: https://money.usnews.com/investing/investing-101/articles/what-are-the-four-factors-of-productionAccessed: 14/10/21With regard to factors of production, which of the following statements is NOT true?a. Factors of production are also known as resources.b. In order to produce any good or a service, it is necessary to have factors of production.c. Factors of production include land, labour, capital, and entrepreneurship.d. Only those resources that are privately owned are counted as factors of production.

Factors of production:- The resources that companies utilize to create commodities are regarded as…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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"The four factors of production are needed in an efficient market to provide goods and services at an affordable price at the right time, place and mix,"... "Missing the calibration of these factors can be disastrous for the supplier and consumer." The supplier may face higher costs of production, forcing them to charge a higher price to the consumer or risk going out of business.

Source: https://money.usnews.com/investing/investing-101/articles/what-are-the-four-factors-of-production
Accessed: 14/10/21
With regard to factors of production, which of the following statements is NOT true?
a. Factors of production are also known as resources.
b. In order to produce any good or a service, it is necessary to have factors of production.
c. Factors of production include land, labour, capital, and entrepreneurship.
d. Only those resources that are privately owned are counted as factors of production.

Definition Definition Degree to which financial markets incorporate all available information into the prices of assets. In a more efficient market, the prices reflect the available information more than that in a weak efficient market. It is difficult for investors to outperform the market in a strong efficient market. This is because all the available information is already discounted in the asset's price. However, in a weak-form efficiency, the market does not reflect all information in the asset's price. As a result, it becomes easier to generate better returns in a weak form or an inefficient market.

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