The transformation of resources into economic goods and services is called
A) technical efficiency.
B) resource.
C) production.
D) increasing returns.
E) output.

Question

Quizplus · Accepted Answer

The transformation of resources into economic goods and services is commonly referred to as production. Option A refers to the effectiveness of a production process, option B refers to the factors of production themselves, option D refers to a situation where output increases proportionately with an increase in input, and option E refers to the final products and services resulting from production.

The Transformation of Resources into Economic Goods and Services Is