Suppose that Chloe opens a dog grooming business in a local shopping center. Which of the following would be an example of a factor of production used by Chloe?
(i)her employees' time
(ii)brushes, combs, scissors, and clippers
(iii)shampoo, water, and flea prevention treatments
(iv)Chloe's time spent on bookkeeping and bill paying
A)(i) only
B)(i) and (ii) only
C)(i), (ii), and (iii) only
D)(i), (ii), (iii), and (iv)

Question

Quizplus · Accepted Answer

All listed items are factors of production: labor (employees' and Chloe's time), capital (tools and equipment), and materials (shampoo, water, treatments).

Suppose That Chloe Opens a Dog Grooming Business in a Local