Which term below refers to "the accumulation of goods produced in the past that are being used in the present to produce new goods and services"?
A)inventories
B)products
C)factors of production
D)capital

Question

Quizplus · Accepted Answer

The term that refers to "the accumulation of goods produced in the past that are being used in the present to produce new goods and services" is capital. The other choices such as inventories, products and factors of production do not specifically refer to the accumulation of goods produced in the past.

Which Term Below Refers to "The Accumulation of Goods Produced