Which factors of production are used by a dog walker to provide a service that has value?

1) labor only

2) capital only

3) both

4) capital and natural

3) both

Explanation:

The correct option is the both. Any dog walker ususally provide services inorder to insure that the dogs of the clients are well taken care of. He employed the factors of production like the labour and capital to insure that his services has value.

Labour with respect to employing extra hands assissting in the dog walking while and capital which help in ensuring that all the required materials towards the successful running of his business are deployed after purchasing them.

51% were unhappy, i think .   ; )

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.