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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.
Which of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
Economics is about the production of goods and services which requires the allocation of what?
Resources
What resources are needed to produce goods and services?
production materials
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.
What is the name of the process in which you apply resources to obtain products?
Concept is the name of the process in which you apply resources to obtain products.
Which of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
Of the following questions must be answered in order to turn resources into products?
How should production be organized?idk i got it wrong but its NOT "How should production be organized? "i think its "How are goods and services to be distributed?"
Economics is about the allocation of resources for the production and distribution of goods?
Economics is about the allocation of resources for the production and distribution of goods and ___________.
Economics is about the production of goods and services which requires the allocation of what?
Resources
What is medium of production?
The medium of production refers to the resources and tools used in the production of goods and services, such as machinery, technology, raw materials, and labor. It encompasses all the physical and human elements required to produce and distribute products in an economy.
Economics is about the production of goods and services which requires allocation of what?
Resources
Economics is about the production of good and services which requires the allocation of what?
Resources
What Economics is about the production of goods and services which requires the allocation of what?
Resources
What resources are needed to produce goods and services?
production materials
What Economics is about the production of goods and services which require the allocation of what?
Resources
