To Meet Increased Demand for Its Good, a Firm Decides
To meet increased demand for its good, a firm decides to hire a few high-skilled workers, rather than hire many low-skilled workers.The firm is answering the ________ question.
An art museum decides to offer tours by having visitors listen to CDs rather than have tour guides.The museum is answering the ________ question.
To earn income, people sell the services of the factors of production they own.Land earns ________and labour earns ________.
E)rent; minimum wage
The fact that some people can afford to live in beautiful homes while others are homeless is an example of an economy facing the ________ question.