Topic 3 - Nice quiz

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• Yes

• More than ready

• No

• Maybe.

There are __ factors of production?

• 1

• 5

• 4

• 3

The income/reward for capital is

• Rent

• Interest

• Profit

• wages or salaries

What is regarded as the 5th factor of production?

• Money

• Production

• Technology

• scarcity.

Consumption spending is denoted by

• G

• I

• C

• X

C= 500 , I= 200 , G=350 , X=150 , Z=200

Calculate the total spending for this economy

• 1 400

• 1 000

• 1 100

• 1 050