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goods and services.
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How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
What is typically the most efficient ratio of labor to capital?
equal amounts of labor and capital
What is the creation of capital from labor?
salaries
What is a description of the organization of labor and capital?
Production
What will cause the capital stock when it increases?
Increases in the stock of capital will cause which of the following?The demand of labor increases.The demand of labor decreases.Selected answer No change in the demand of labor.First increase then decrease the demand of labor
How did labor and capital combine to create the Industrial Revolution?
Capital was invested in factories that employed the workforce
How did labor capital combine to create the industrial revolution?
Capital was invested in factories that employed the workforce
What are the three factors of prduction?
Land, labor and capital goods
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
What is typically the most efficient ratio of labor to capital?
equal amounts of labor and capital
What following are necessary for production to take place?
Factors of production-land, labor, capital, and entrepreneurship are necessary for production to take place. Land refers to natural resources, labor represents the human input, capital includes physical assets like machinery, and entrepreneurship involves organizing and combining the other factors to create goods and services.
What makes a resource?
The factors of production : land, labor, and capital. You need land (soil, water, minerals, trees, etc) to form the resource, labor to create it, and the money to spend to buy the land, factories, equipment, and labor to manufacture the resources.
What are the release dates for Capital vs- Labor - 1910?
Capital vs- Labor - 1910 was released on: USA: 22 March 1910
What is the creation of capital from labor?
salaries
What is a description of the organization of labor and capital?
Production
What will cause the capital stock when it increases?
Increases in the stock of capital will cause which of the following?The demand of labor increases.The demand of labor decreases.Selected answer No change in the demand of labor.First increase then decrease the demand of labor
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
