Resources and Factors of Production
Of the given words, the term most synonymous along with the term “factor of production” is: (i) technology. (ii) innovation. (iii) entrepreneur. (iv) capital. (v) resource. Please guys help to solve this problem of economics with some explanation.
Of the given words, the term most synonymous along with the term “factor of production” is: (i) technology. (ii) innovation. (iii) entrepreneur. (iv) capital. (v) resource.
Please guys help to solve this problem of economics with some explanation.
Why do people usually assume that water run on sidewalks and within the street while they water their lawns? Is that wasted water a symbol of inefficiency?
Can someone help me in finding out the right answer from the given options. In a society, based on pure capitalism, the government: (i) Is completely needless, as anarchy is ideal. (ii) Specifies the production and distribution plans in detail. (iii) Enforces the prop
The requirements criterion for distributing income entails: (1) Government costless offering all goods required for survival. (2) High administrative costs as determining someone else’s wants are difficult. (3) Dividing the national income unifo
The equation ΔMV is equal to ΔPQ while real GDP (which is adjusted for inflation), is fixed is a modern method to distinguish: (w) Adam Smith’s labor theory of value. (x) Francois Quesnay’s circular flow model. (y) Roberto Mich
All resources are encompassed through the classes of labor: (i) industrial robots, energy, and raw materials. (ii) capital, entrepreneurship, and knowledge. (iii) land, entrepreneurship and capital. (iv) entrepreneurship, investment and materials. (v)
Positive economic statements: (1) are factual and can never be wrong. (2) predict political viewpoints. (3) are attempts to explain economic relationships. (4) estimate the fairness of social programs. (5) can resolve the matter of equity.
In words of Adam Smith, overview of human history, that asserted nomadic cultures are inevitably replaced with agricultural communities and which with such change comes: (w) raised education for minors. (x) women’s freedom. (y) more stable food
Which would be the closest illustration of a free good: (1) A can of tuna bought along with food stamps, (2) dead leaves which require raking into fall, (3) water through a drinking fountain at a park, (4) a sample of soap acquired in the mail and (5)
Economic systems (example: capitalism versus socialism) are mainly distinguished by their relative reliance on alternative allocative mechanisms, and particularly by: (1) Who builds major economic decisions and who owns non-human resources. (ii) The level of inequalit
This market for clothing started on S0 and D0. Inside this market for clothing,: (w) demand has increased, possibly because of a raise in income. (x) new equilibrium price lies below the original equilibrium price. (y) supply may have transferred
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