« previous next »

Author Question: List and briefly describe the five factors of production. What will be an ideal ... (Read 154 times)

MirandaLo

  • Hero Member
  • *****
  • Posts: 538
on: Jun 30, 2018
List and briefly describe the five factors of production.
 
  What will be an ideal response?

Question 2

Which of the following statements is true?
 
  A) Proximate causes of prosperity are shaped by fundamental causes of prosperity.
  B) Proximate causes of prosperity are effective only in the short run.
  C) Fundamental causes of prosperity are effective only in the short run.
  D) Fundamental causes of prosperity are shaped by proximate causes of prosperity.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


amanda_14

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 30, 2018
Answer to Question 1

Natural resourcesthose resources provided by nature. Laborthe physical and mental effort used by people to produce goods and services. Physical capitalthe infrastructure, equipment, machines and structures used to produce goods and services. Human capitalthe knowledge and skills obtained by workers through education and experience. Entrepreneurshipthe organizing and coordination of the other four factors of production needed to produce and sell products.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Actions of regulatory transcription factors and small effector molecules Actions of regulatory transcription factors and small effector molecules
Factors that Influence Pulse Rate Factors that Influence Pulse Rate
Risk Factors for Developing Breast Cancer Risk Factors for Developing Breast Cancer
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa
Pioneer factors Pioneer factors
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library