Author Question: Identify and describe the three factors of production.[br][br][b][color=#566D7E]Question ... (Read 110 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?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

For a complete list of videos, visit our video library