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The degree in which resources are being used to produce goods and services?
Wiki User
∙ 12y ago
Productivity
Wiki User
∙ 12y ago
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How does scarcity affect the factors of production?
Scarcity is the non-abundance of resources. Resources are needed to produce. Thus, the more that is produced, the more resources are being used.
When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
What are disadvantages to a market economy?
A Market economy is reffered to as an economy in which the consumers decide what to produce, How to produce and For whom to produce. There are several disadvantages of a market economy. The main one being an inefficient allocation of resources refered to as market failure. Firstly, some good and services would be under provided such as defence and education.
What are the five basic problems of economics?
Five Baisc Problems of economics 1) Wat to Produce? 2) In what quantity ti be produced 3) How to Produce? 4) For whom to Produce? 5)How efficiently are the Resources being utilisec??
Why is a nation with abundant resources better off trading than being self-sufficient?
A nation is better off when it produces goods and services for which it has a comparative advantage.
How does scarcity affect the factors of production?
Scarcity is the non-abundance of resources. Resources are needed to produce. Thus, the more that is produced, the more resources are being used.
When market governments decide how to distribute wealth money goods and services what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
When markets or governments make economic decision about how to most efficiently convert their resources into goods and service what basic economic question are they answering?
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
What are disadvantages to a market economy?
A Market economy is reffered to as an economy in which the consumers decide what to produce, How to produce and For whom to produce. There are several disadvantages of a market economy. The main one being an inefficient allocation of resources refered to as market failure. Firstly, some good and services would be under provided such as defence and education.
What does Cancun Mexico produce?
Cancun's agriculture and manufacturing is negligible. Most of its economy is services-oriented, being tourism and its associated services the majority of economic activities done there.
Is man a social being or an economic being?
Man is a social being with a social contract with the society but with economic ability to produce good and services for his economic human wants and needs.
What are the five basic problems of economics?
Five Baisc Problems of economics 1) Wat to Produce? 2) In what quantity ti be produced 3) How to Produce? 4) For whom to Produce? 5)How efficiently are the Resources being utilisec??
Why don't poor countries react as well to natural disasters?
Being poor they haven't the resources to do much about them. Few hospitals, little rescue services.
Why is a nation with abundant resources better off trading than being self-sufficient?
A nation is better off when it produces goods and services for which it has a comparative advantage.
How do Public Services Serve Their Communities?
Public services serve their communities by providing essential resources, such as healthcare, education, transportation, and safety services. They aim to address the needs of the community and improve the overall well-being of its residents. Public services are funded by taxpayer dollars and are intended to benefit all members of society.
What are Canadian resources?
Canadian resources are resources in Canada that are being used.
How do you know non renewable resources are being used up?
How are natural resources being used ?
