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Why is it important to utilize resources judiciously in production?

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Single Answer MCQ

Q-00140259

It reduces the need for consumer demand.

It ensures sustainability and efficiency.

It increases production speed.

It limits competition.

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Q1.

What does the term 'land' refer to in the context of factors of production?

Q2.

Which of the following is NOT considered a factor of production?

Q3.

Which factor of production involves human effort that contributes to the creation of goods?

Q4.

In which scenario is the 'capital' factor of production primarily utilized?