the law of increasing costs
another name for variables is factors
Countries with the most efficient factors of production could produce the most profitable goods.
"Constants" would be an appropriate word
Yes. The correct answer is true. In examining the setting as it related to the story, it is necessary to consider the effect of four factors on the story as a whole. Temporal factors, geographic factors -social structures and economic factors and customs, moral attitudes, and codes of behavior. Each factor has an important effect on the problems, conflicts and character of human beings and must be considered as an integral part of any story's plot or theme.
In economics, the difference between cost of materials and labor to produce a product, and the sale price of a product is the Value added. In national accounts used in macroeconomics, value added is the contribution of it refers to the contribution land, labor, and capital goods (the factors of production), to increasing the price of a product, the value added is then the income received by the owners of these factors. The national value added is shared between capital and labor (as the factors of production), and this sharing gives rise to issues of distribution.sources: http:/en.wikipedia.org/wiki/Value_a
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
the law of increasing costs
the law of increasing costs
in the process of production, in short run where producer changes few factors of production , i.e; varies the proportion between fixed factors and variable factors then production changes by three ways -at first production increases rapidly - at second production increases slowly - at third production decreases. the analysis of these procedures is known as law of variable proportion.
the law of increasing costs
uh?
Specialization is when factors of production perform only tasks they can do more efficiently than others. This is argued to maximize efficiency, but also increases interdependence among aspects of production.
Specialization is when factors of production perform only tasks they can do more efficiently than others. This is argued to maximize efficiency, but also increases interdependence among aspects of production.
Factors of production
To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments. To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments.
Natural Resources Another major reason why the Industrial Revolution began in Great Britain was that it had an abundant supply of what economists call the three factors of production. These factors of production are land, labor, and capital.