Want this question answered?
good
What to produce? A nation must determine what good or services that they want to produce. How many and when?How to produce? Who will do the production, the resources and what production techniques they will use.For whom to produce? Who will gets the services and who will buy the goods produces.
Canada is one of the wealthiest of the world's nations. Its economy is dominated by the service industry, with logging and oil production serving major roles as well.
Lumber for one... wheat. There are many. Simply think of what products or services Canada has a low-cost for. In other words, if the product has a low opportunity cost to another product, then chances are that country will export or "produce" in comparative advantage.
Capital
What good and services to produce?
good
they produced something good
businessess produce goods and services and sells them to households
It's an economy
What to produce? A nation must determine what good or services that they want to produce. How many and when?How to produce? Who will do the production, the resources and what production techniques they will use.For whom to produce? Who will gets the services and who will buy the goods produces.
Canada is one of the wealthiest of the world's nations. Its economy is dominated by the service industry, with logging and oil production serving major roles as well.
RESOURCE?
Lumber for one... wheat. There are many. Simply think of what products or services Canada has a low-cost for. In other words, if the product has a low opportunity cost to another product, then chances are that country will export or "produce" in comparative advantage.
Tool, equipment, or other manufactered good used to produce other goods and services; a factor of production.
Tool, equipment, or other manufactered good used to produce other goods and services; a factor of production.
The Royal Bank of Canada offers the usual banking services of holding accounts for people. It offers good rates of interest and it allows its customers to bank online.