The difference between iron ore deposits and the steel produced from these depos

Question

The difference between iron ore deposits and the steel produced from these deposits that is later used to make factory equipment illustrates the difference between:
A) labor and a natural resource.
B) labor and capital.
C) a natural resource and capital.
D) a natural resource and entrepreneurship.

210. The increase in the cost of health care was caused in part:
A) by technology, which has created new and costly treatments.
B) by doctors' receiving incomes above the market level.
C) by the government's fixing prices in health care.
D) because insurance companies have been left out of health care.

41. If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is:
A) price elastic.
B) price inelastic.
C) unit price elastic.
D) upward sloping.

Explanation / Answer

C C A

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