Ethics play a key role in income redistribution.

A factor of production refers to any good or service that is:

A) produced by the government. B) produced in a competitive market. C) used to produce other goods and services. D) produced using scarce economic resources.

A point that lies above the production possibilities frontier (PPF) represents a combination of at least two goods that is

a. unavailable. b. available. c. representative of efficient production. d. representative of inefficient production. e. none of the above