The factors of production are best defined as the... goods and services sold in the market. goods and services sold in the market. wages paid to the workforce. wages paid to the workforce. inputs used to produce goods and services. inputs used to produce goods and services. output produced from raw materials.

inputs used to produce goods and services

Explanation:

In an economy, production may be defined as the action or the process of making or the manufacturing the components or the raw materials.

The factors of production or the factors of resources refers to those that are used in the production process process to produce the output i.e. the finished goods as well as services.

Thus the factors of production are the inputs that is used to produce the goods and the services.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.