11 e as a factor of production capital refers to the

11. E As a factor of production, capital
refers to the
(A) money available to start a business
(B) stocks and bonds issued by businesses to
raise funds
(C) financial investment of businesses
(D) currency in circulation and deposits in
financial institutions
(E) tools and machinery used to produce goods
and services
12. B The basic economic problem of all
economies is essentially one of deciding how
to make the best use of
13. C Which of the following best defines
opportunity cost?