The resources in the economy do not include ?
Correct answer: A. Demand
- A. Demand
- B. Land
- C. Labour
- D. Capital
Explanation
The basic productive resources are land, labour, capital and entrepreneurship, whereas demand expresses consumers' willingness to buy goods. Demand is therefore not a resource input.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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