resource
definition of land resource
In the circular flow of the free-market system, producers provide goods and services to consumers. They supply these products in response to consumer demand, aiming to maximize profit. This interaction creates a continuous loop where money flows from consumers to producers in exchange for goods and services, and in turn, resources and labor flow from producers back to households. This dynamic maintains economic activity and facilitates resource allocation in the market.
The cost of further extraction will exceed the value of the resource.
Both.
resource
definition of land resource
The main economic resource of difficulty is scarcity of resources.
How resource constrain guide you to take major economic decisions?
yourmum
The cost of further extraction will exceed the value of the resource.
oil
Both.
wheat
Natural resource.
Resource Markets & Product Markets
RESOURCE