« previous next »

Author Question: List and briefly describe the five factors of production. What will be an ideal ... (Read 133 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?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

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.

The official “Do Not Use” list as issued by The Joint Commission. The official “Do Not Use” list as issued by The Joint Commission.
Factors Affecting Saturation and Condensation: Effect of Solution Factors Affecting Saturation and Condensation: Effect of Solution
Schematic diagram of virulence factors of Helicobacter pylori. Schematic diagram of virulence factors of Helicobacter pylori.
Major regulatory factors controlling pyruvate dehydrogenase and the citric acid cycle Major regulatory factors controlling pyruvate dehydrogenase and the citric acid cycle
Certain foods and lifestyle factors contribute to heartburn Certain foods and lifestyle factors contribute to heartburn
Expansion factors for orifice plates Expansion factors for orifice plates
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library