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Is how people or countries manage their resources by producing exchanging and using goods and services.?
Wiki User
∙ 6y ago
I think it would be Productivity if I'm correct!
Wiki User
∙ 6y ago
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When is an economy producing efficiently?
getting the most goods and services from the available resources
What people are creating when they make resources for producing other goods and services?
Capital
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What does monetary trade mean?
exchanging goods and/or services with the use of money
Why must countries trade with other?
To obtain products, services, and natural resources that otherwise would not be available.
When is an economy producing efficiently?
getting the most goods and services from the available resources
What people are creating when they make resources for producing other goods and services?
Capital
How can using resources for growing food or producing others goods and services affect the environment?
it replaces people
Why is primary sector important to a country's economy?
The sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactures and other processed goods, and the tertiary sector, producing services. The primary sector is usually most important in less developed countries, and typically less important in industrial countries.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
Definition and Examples of International Business?
International business refers to exchanging good and services with individuals and businesses in multiple countries. Walmart is a perfect example of international business because this company exports and imports a lot of products and services.
What does monetary trade mean?
exchanging goods and/or services with the use of money
How did Egyptians trade?
By exchanging goods and services - money had not been invented.
What is the economic system?
The Economic System are the means by which countries and governments distribute resources and trade goods and services.
Why must countries trade with other?
To obtain products, services, and natural resources that otherwise would not be available.
Why do countries differ in their capacities to produce different goods and services?
Due to there capabilities by there natural resources and labor.
What is a primary industrial sector?
The primary sector of the economy can be defined as the sector of an economy making direct use of natural resources. This includes agriculture, forestry and fishing, mining, and extraction of oil and gas. This is contrasted with the secondary sector, producing manufactured and other processed goods, and the tertiary sector , producing services. The primary sector is usually most important in less developed countries, and typically less important in industrial countries
