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In a circular flow diagram labor and other factors of production are sold on resource markets. these resources are then used to produce goods ands services sold onn product markets. how are businesses?
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What is purchased by businesses in a resource market?
Businesses purchase the factors of production in a resource market, which are: capital, labor, land and entrepreneurship. (:
What Distinguish between the resource market and the product market in the circular flow model?
businesses purchase what they use to produce goods and services. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households.
In a Circular Flow Model consisting of the Household Sector The Business Sector Product Markets and Resource Market...?
Businesses are sellers of products.
What are the two payments in the free market circular flow model?
Resource markets and product markets are the two payments int he free market circular flow model. Both of these markets are for businesses and households.
What decisions about production must be made to allocate resources effectively?
Information is the basic resource from which decisions are made.
What is purchased by businesses in a resource market?
Businesses purchase the factors of production in a resource market, which are: capital, labor, land and entrepreneurship. (:
What Distinguish between the resource market and the product market in the circular flow model?
businesses purchase what they use to produce goods and services. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households.
How can the circular wait condition be prevented?
Circular wait prevention consists of allowing processes to wait for resources, but ensure that the waiting can't be circular. One approach might be to assign a precedence to each resource and force processes to allocate resources in order of increasing precedence. That is to say that if a process holds some resources, and the highest precedence of these resources is m, then this process cannot request any resource with precedence smaller than m. This forces resource allocation to follow a particular and non-circular ordering, so circular wait cannot occur.
What is Production resources?
a resource based product are those whose production is based on Natural Resources like gold,silver,iron.
In terms of the circular flow diagram businesses obtain revenue through the market and make expenditures in the market?
Resource; Product
In a Circular Flow Model consisting of the Household Sector The Business Sector Product Markets and Resource Market...?
Businesses are sellers of products.
What is a resource-based products?
a resource based product are those whose production is based on natural resources like gold,silver,iron.
What are the two payments in the free market circular flow model?
Resource markets and product markets are the two payments int he free market circular flow model. Both of these markets are for businesses and households.
What do you mean by investment in human resource?
Businesses refer to their employees as human resources, and money spent on hiring or training employees can be described as an investment in human resources.
What decisions about production must be made to allocate resources effectively?
Information is the basic resource from which decisions are made.
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
How much money does a non-renewable resources have?
A non renewable resource is a type of energy production and therefore does not have money.
