« previous next »

Author Question: List and briefly describe the five factors of production. What will be an ideal ... (Read 109 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?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Pathway of urine production and elimination. Pathway of urine production and elimination.
Factors That Contribute to Eating Disorders Factors That Contribute to Eating Disorders
British Iron Production, 1600–1870 British Iron Production, 1600–1870
Production of ATP in Skeletal Muscle Production of ATP in Skeletal Muscle
Describe the Conceptual Forecasting Framework in your own words. Describe the Conceptual Forecasting Framework in your own words.
Factors in replication of organelle genomes Factors in replication of organelle genomes
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library