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How do the dynamics of the market for factors of production differ from the market for goods and services?
The market for factors of production involves the buying and selling of resources like labor, land, and capital, while the market for goods and services involves the buying and selling of finished products. In the factors of production market, prices are determined by supply and demand for resources, while in the goods and services market, prices are determined by supply and demand for the final products.
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Economic systems differ according to what two main characteristics?
Answer: Who owns the factors of production, and the methods used to coordinate economic activity.
What is the definition of a capital good and how does it differ from other types of goods?
A capital good is a type of good that is used by businesses to produce other goods or services. It is typically a long-term investment in machinery, equipment, or infrastructure. Capital goods differ from consumer goods in that they are not directly consumed by individuals for personal use, but rather used in the production process to create other goods and services.
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
How do developing countries differ from developed countries?
the jobs and services are the same
Why do countries differ in their capacities to produce different goods and services?
Due to there capabilities by there natural resources and labor.
What does it mean for a firm to have a strong production orientation how does this differ from the marketing concept?
for a firm to have a strong production means for it to produce products that will satisfy customers and to emphasize on the goods and services. How does this differ from the marketing concept?
How does production management differ from operations management?
operation management is the set of activites that creates goods and services by transforming inputs into outputs.
Economic systems differ according to what two main characteristics?
Answer: Who owns the factors of production, and the methods used to coordinate economic activity.
How does operating leverage differ in manufacturing services and e-commerce companies?
how does operating leverage differ in manufacturing services and e-commerce companies? how does operating leverage differ in manufacturing services and e-commerce companies?
How does technology differ from capital as a factor of production?
Factors of production typically include land, labor, capital, and natural resources. These inputs are used directly to produce a good or service. Technology, on the other hand, is used to put these factors of production to work. ... An improvement in technology usually means that fewer and/or less costly inputs are needed.
Ecosystems differ from a community in that ecosystems also contain?
Ecosystems differ from a community in that they also contain abiotic factors like air, water, sunlight, and soil, which interact with the biotic components. This adds a physical dimension to the relationships within an ecosystem, influencing the dynamics of the community.
If environmental conditions differ what will also differ?
If environmental conditions differ, the ecosystems and biodiversity within those areas will also differ. This can lead to variations in species composition, population dynamics, and interactions among organisms. Additionally, factors such as climate, soil quality, and availability of resources will influence the development and sustainability of different habitats. Ultimately, these differences can impact ecological processes and the overall health of the environment.
What is the definition of a capital good and how does it differ from other types of goods?
A capital good is a type of good that is used by businesses to produce other goods or services. It is typically a long-term investment in machinery, equipment, or infrastructure. Capital goods differ from consumer goods in that they are not directly consumed by individuals for personal use, but rather used in the production process to create other goods and services.
What 2 factors of 2880 differ by 12?
The two factors are 48 and 60.
How does a healthy gene differ from a gene that causes hemophilia?
A healthy gene does not have mutations that disrupt normal blood clotting factors. A gene that causes hemophilia has mutations that affect the production or function of blood clotting factors, leading to difficulty in blood clotting and increased risk of bleeding.
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
How do developing countries differ from developed countries?
the jobs and services are the same
