Factors of Production Demand

• Production mainly dependent on labor, adopted in small-scale industries like hotels and restaurants (correct)
• Production mainly dependent on technology, adopted in medium-scale industries like electronics manufacturing
• Production mainly dependent on raw materials, adopted in agriculture and mining
• Production mainly dependent on capital, adopted in large-scale industries like car-manufacturing

• Production with equal investment in labor and capital, often seen in manufacturing of consumer goods
• Production requiring a relatively high level of capital investment compared to the labor cost, often automated like car-manufacturing (correct)
• Production with minimal investment in both labor and capital, often seen in traditional crafts and arts
• Production relying mainly on labor with minimal capital investment, often seen in technology startups

• The scarcity of resources used in production
• The transformation of raw materials to finished goods and services
• The value added to inputs to create outputs
• The amount of output produced from a given amount of input over a period of time (correct)

<p>Land, labor, and capital (inputs) (A)</p> Signup and view all the answers

<p>Production (C)</p> Signup and view all the answers