Author Question: Identify and describe the three factors of production.[br][br][b][color=#566D7E]Question ... (Read 122 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?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

For a complete list of videos, visit our video library