Goods and services, and factors of production

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  1. Goods and Services, and Factors of Production Overview:
  2. Definition of Goods and Services
    • Goods
    • Services
  3. Factors of Production
    • Land
    • Labor
    • Capital
    • Entrepreneurship
  4. Self-Interest vs Social interest
    • Self-interest: the best choice for you
    • Social interest: the best choice for society
    • Efficiency
    • Can self-interest promote social interest?
  1. Understanding Goods and Services
    Which of the following is not a good?
    1. Computer parts
    2. A luxury car
    3. A watch
    4. Eye examination
  2. Which of the following is not a good?
    1. A business consultant
    2. Tutoring
    3. Equipment
    4. Computer repairs
  3. Understanding Factors of Production
    Which of the following is not one of the categories for factors of production?
    1. Land
    2. Capital
    3. Revenue
    4. Entrepreneurship
  4. Understanding Self-Interest and Social Interest
    List a self-interest in climate change that does not promote social interest.
    1. The technological change during the past 40 years is known as the Information Revolution. List a self-interest in Information Revolution and decide whether the Information Revolution best serves the social interest.