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Factors of Production

1. Land

2. Labor

3. Capital

4. Entrepreneurship

5. Knowledge

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What are human made resources?

Human-made resources, also known as capital or capital resources, is material wealth created by humans that can be used to create more wealth. Examples include money, factories, roads, and technology.


What do you see as the different between tom's wealth and gatsby wealth?

Toms wealth is known as "Old Money" which means he inherited it. Gatsby's is known as "New Money" which means he earned it.


Idea of sharing wealth is known as?

The idea of sharing wealth is often referred to as "wealth redistribution." This concept involves reallocating resources and income from wealthier individuals or groups to those who are less affluent, typically through mechanisms like taxation, social welfare programs, or community initiatives. The goal is to reduce economic inequality and provide everyone with a more equitable opportunity to thrive.


What are primary and subsidiary activities?

Primary activities are the core functions of a business that directly contribute to the creation and delivery of products or services, such as production, marketing, and sales. Subsidiary activities, also known as support activities, are those that facilitate and enhance the effectiveness of primary activities, including human resources, technology development, and procurement. Together, these activities form a value chain that helps organizations optimize operations and improve competitiveness.


Who had propounded the 'wealth theory of demand for money'?

Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.

Related Questions

What are human made resources?

Human-made resources, also known as capital or capital resources, is material wealth created by humans that can be used to create more wealth. Examples include money, factories, roads, and technology.


What human made resources?

Human-made resources, also known as capital or capital resources, is material wealth created by humans that can be used to create more wealth. Examples include money, factories, roads, and technology.


What are the primary resources in the Yukon?

The Yukon is rich in natural resources, primarily known for its mineral wealth, including gold, silver, copper, and zinc. Additionally, the territory has significant forestry resources and is home to vast forests that provide timber. The region also has potential for hydroelectric power generation due to its numerous rivers and water systems. Furthermore, the Yukon is known for its wildlife and fishery resources, which contribute to both local subsistence and commercial activities.


Why is New York an empire state?

It became known as the Empire State because of it's wealth and natural resources.


How does a tidal wave form and what are the factors that contribute to its creation?

A tidal wave, also known as a tsunami, forms when there is a sudden displacement of a large volume of water, usually caused by underwater earthquakes, volcanic eruptions, or landslides. The factors that contribute to the creation of a tidal wave include the magnitude and location of the underwater disturbance, the depth of the water, and the shape of the coastline.


How are fire tornadoes formed and what factors contribute to their creation?

Fire tornadoes, also known as fire whirls, are formed when intense heat from a fire creates a rotating column of air. Factors that contribute to their creation include strong winds, high temperatures, and the presence of a large and intense fire. The combination of these elements can lead to the formation of a fire tornado.


How does a fire tornado form and what are the factors that contribute to its creation?

A fire tornado, also known as a fire whirl, forms when intense heat from a fire creates a rotating column of air. Factors that contribute to its creation include strong winds, high temperatures, and the presence of a large and intense fire. The combination of these elements can lead to the formation of a fire tornado.


Which desert is rich in minerals?

The Atacama Desert in Chile is known for being rich in minerals, particularly copper and lithium. Its unique arid conditions and geological features contribute to the concentration of these valuable resources. The desert's mineral wealth has made it a significant area for mining activities, especially in the context of global demand for lithium in battery production.


What were the ideas of sharing wealth known as?

The idea of sharing wealth is often referred to as socialism, which is a political and economic theory advocating for collective ownership and distribution of resources to achieve social and economic equality. Other terms that may be used to describe the concept include wealth redistribution, social welfare, and economic egalitarianism.


What is Luxemburg known for?

Wealth.


How do fire whirls form and what factors contribute to their creation?

Fire whirls, also known as fire tornadoes, form when intense heat and wind combine to create a spinning vortex of flames. Factors that contribute to their creation include high temperatures, strong winds, and the presence of a fuel source such as vegetation or buildings. The interaction of these elements can lead to the formation of a fire whirl.


What do you see as the different between tom's wealth and gatsby wealth?

Toms wealth is known as "Old Money" which means he inherited it. Gatsby's is known as "New Money" which means he earned it.