Homework Answers
Factors of production, which are Land, Labor, Capital and Entrepreneurship are the resources used to produce goods and services. Knowledge is recently identified as one of the factors of production.
First factor is land which is a natural resource. Not only land but anything which comes from land is also included here. Example: Water, coal , forests etc.
Labor is human resources or man power . Ex: workers could be from daily labor to a Pilot
Capital includes machinery, tools, buildings etc.
Entrepreneurs use all the above resources to run their business.
Knowledge, fifth factor is the information technology being used by entrepreneurs to decide their business needs and help them optimize their Business processes
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43) Resources used to produce goods and services are called Ofa financial resources capital Onatural resources
1. A country's resources (land, labor, and capital) are used to produce the goods and services...
1. A country's resources (land, labor, and capital) are used to produce the goods and services that satisfy the wants of its population. For each of the following, identify whether it should be classified as land, labor, or capital and justify your conclusion. Remember to consider the economic use of these terms (i.e. land, labor, and capital). a four year college degre a. b. the software used to make Facebook available to users c. 100 shares of Microsoft stock d....
A society dedicates resources to produce goods and services, these resources include: Group of answer choices...
A society dedicates resources to produce goods and services, these resources include: Group of answer choices land labor capital all of the above
ns 008.18.0-MC- MANKOS The inputs used to produce goods and services are called | 0 a....
ns 008.18.0-MC- MANKOS The inputs used to produce goods and services are called | 0 a. profit factors. o b. marginal products. O c. labor demands. O d. factors of production.
1. A country's resources (land, labor, and capital) are used to produce the goods and services...
1. A country's resources (land, labor, and capital) are used to produce the goods and services that satisfy the wants of its population. For each of the following, identify whether it should be classified as land, labor, or capital and justify your conclusion. Remember to consider the economic use of these terms (i.e. land, labor, and capital). a. a four year college degree b. the software used to make Facebook available to users c. 100 shares of Microsoft stock d....
Capital, as a factor of production, refers to O A. the physical goods used to produce...
Capital, as a factor of production, refers to O A. the physical goods used to produce other goods and services. O B. the production technology used by firms. O C. stocks, and bonds but not money. OD. the production factors imported from abroad. O E. money, stocks, and bonds.
True or False? The process of creating goods and services in which organizational resources are transformed...
True or False? The process of creating goods and services in which organizational resources are transformed into outputs is called production.
Productivity relates to the quantity of goods and services produced from each unit of money input....
Productivity relates to the quantity of goods and services produced from each unit of money input. True False The stock of equipment and structures that are used to produce goods and services is called physical capital. True False If we keep adding inputs and the benefits from it decline, we are experiencing diminishing returns. True False The way for savers to indirectly provide funds to borrowers is through a financial intermediary. True False Savers and borrowers come together in the...
In two detailed paragraphs explain the four types of processes used to produce goods and services.
In two detailed paragraphs explain the four types of processes used to produce goods and services.
Question 10 4 pts The inputs into production of goods and services that are provided by...
Question 10 4 pts The inputs into production of goods and services that are provided by nature, such as land, rivers, and mineral deposits are called human capital. O technological knowledge. natural resources. physical capital.
Class, resource demand is derived from demand for products and services that the resources produce. Demand...
Class, resource demand is derived from demand for products and services that the resources produce. Demand for products and services is a question of income and tastes. But resource demand is more passive in the sense that it is derived from the demand for the products the resource can produce. If a resource can’t be used in production of a desired product or service, there will not be any demand for it. Additionally, resources are often less mobile than products,...
1. A country's resources (land, labor, and capital) are used to produce the goods and services that satisfy the wants of its population. For each of the following, identify whether it should be classified as land, labor, or capital and justify your conclusion. Remember to consider the economic use of these terms (i.e. land, labor, and capital). a four year college degre a. b. the software used to make Facebook available to users c. 100 shares of Microsoft stock d....
ns 008.18.0-MC- MANKOS The inputs used to produce goods and services are called | 0 a. profit factors. o b. marginal products. O c. labor demands. O d. factors of production.
1. A country's resources (land, labor, and capital) are used to produce the goods and services that satisfy the wants of its population. For each of the following, identify whether it should be classified as land, labor, or capital and justify your conclusion. Remember to consider the economic use of these terms (i.e. land, labor, and capital). a. a four year college degree b. the software used to make Facebook available to users c. 100 shares of Microsoft stock d....
Capital, as a factor of production, refers to O A. the physical goods used to produce other goods and services. O B. the production technology used by firms. O C. stocks, and bonds but not money. OD. the production factors imported from abroad. O E. money, stocks, and bonds.
Productivity relates to the quantity of goods and services produced from each unit of money input. True False The stock of equipment and structures that are used to produce goods and services is called physical capital. True False If we keep adding inputs and the benefits from it decline, we are experiencing diminishing returns. True False The way for savers to indirectly provide funds to borrowers is through a financial intermediary. True False Savers and borrowers come together in the...
Question 10 4 pts The inputs into production of goods and services that are provided by nature, such as land, rivers, and mineral deposits are called human capital. O technological knowledge. natural resources. physical capital.
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