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Scarcity and amp choice explain how entrepreneurship and technology relate to natural humany and capital resources.?
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What are the classifications of economic resources?
Land labour capital entrepreneurship
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
What is land and natural resources labor capital and entrepreneurship?
Factors of Production
How can economies grow when one or more of the factors such as labor capital natural resources or entrepreneurship is missing?
An economy can grow even if it's missing an important factor. For example, a country with no natural resources could still rely on skilled workers and technology.
What are some examples of scarcity in the economy?
scarcity is when you use up all of natural resources and capital resources plus human resoures. so if we use up all of our resources we will have no resources to create anything. gas will not be a factor shelter would not be a factor.all of the resources will be use up.
What are the classifications of economic resources?
Land labour capital entrepreneurship
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
What is land and natural resources labor capital and entrepreneurship?
Factors of Production
What do you call the four resources needed to produce goods and services?
land, labor, capital and entrepreneurship
How can economies grow when one or more of the factors such as labor capital natural resources or entrepreneurship is missing?
An economy can grow even if it's missing an important factor. For example, a country with no natural resources could still rely on skilled workers and technology.
What are some examples of scarcity in the economy?
scarcity is when you use up all of natural resources and capital resources plus human resoures. so if we use up all of our resources we will have no resources to create anything. gas will not be a factor shelter would not be a factor.all of the resources will be use up.
Entrepreneurial resources are BEST described as?
Entrepreneurship Resources: A person or a group of people who recognize a business opportunity and combines land, labour and capital resources to make a profit.
What are the characteristics of scarcity?
Scarcity is limited resources of land, labor, and capital. When there is scarcity it leads to giving up wants in order to have what is needed. Sometimes giving up needs in trade for another need is required to survive the scarce resources.
What are the four factors of production in making steel?
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
How is scarcity related to study of economics?
Economics at its heart is the study of decisions made in order to efficiently allocate resources. Scarcity refers to the lack of unlimited resources in regards to the three inputs of production, labor, land and capital.
Explain the economic problems between the city dweller and the farmers?
Scarcity is our limited resources but unlimited wants. Our resources are limited by the 4 factors of production - land, labour, capital and enterprise. The problem of scarcity is that our wants are always beyond what we can produce with our resources. porn
What are the factors of producion?
The three main ones are land, labor and capital. Some people consider entrepreneurship and natural resources.
