Author Question: Identify and describe the three factors of production.[br][br][b][color=#566D7E]Question ... (Read 104 times)

APUS57

  • Hero Member
  • *****
  • Posts: 571
Identify and describe the three factors of production.

Question 2

Describe the difference between demand-pull and cost-push inflation.



chreslie

  • Sr. Member
  • ****
  • Posts: 307
Answer to Question 1

Natural resources are the raw materials that come from the earth; human resources are the labor of people who work to create goods and services; capital resources are buildings, money, equipment, and factories used in production.

Answer to Question 2

Demand-pull inflation results when demand exceeds supply, so prices tend to rise. In cost-push inflation, expenses of businesses increase, causing prices to rise.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

For a complete list of videos, visit our video library