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What are the three main economic resources used for makingsellin and using goods and services?
The three main economic resources used for making, selling, and using goods and services are land, labor, and capital. Land refers to Natural Resources and raw materials, labor encompasses the human effort and skills involved in production, and capital includes the tools, machinery, and financial resources required for creating and distributing goods and services. Together, these resources form the foundation of economic activity and contribute to the overall production process.
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What are the three main economic resources used for making selling and using goods and services?
The three economic resources used for making, selling, and using goods and services are land, labor, and capital. Entrepreneurship is also a factor in making, selling, and using goods and services.
Economic growth occurs when more resources are available true or false?
True Economic growth occurs when there is an increase in the production of goods and services (GDP) of a certain period of time. With more resources available more goods or services can be produced
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 is the function of an economic system and how does it impact the distribution of resources within a society?
The function of an economic system is to allocate resources and coordinate the production and distribution of goods and services within a society. It impacts the distribution of resources by determining how wealth and resources are distributed among individuals and groups, influencing factors such as income inequality and access to goods and services.
What are the two concerns in economic stability?
Simply put, the availability of resources (goods and services), and adequate ability to afford said goods and services with adequate room and ability for them to grow as necessary.
The means through which goods and services?
Economic Resources
What does economic do with resources when it comes to the production and distribution of goods and services?
Allocating
What are the three main economic resources used for making selling and using goods and services?
The three economic resources used for making, selling, and using goods and services are land, labor, and capital. Entrepreneurship is also a factor in making, selling, and using goods and services.
What is the economic system?
The Economic System are the means by which countries and governments distribute resources and trade goods and services.
Economic is about doing it resources when it comes to the production and distribution of goods and services?
Allocating Apex
What do economic decision involves with resources to produce goods and services for people to consume?
Allocating
What are the 2 basic natural resources that economic systems allocate?
Money, goods & services
Economic growth occurs when more resources are available true or false?
True Economic growth occurs when there is an increase in the production of goods and services (GDP) of a certain period of time. With more resources available more goods or services can be produced
When markets make economics decisions convert resources into goods and services?
Demand will always force markets to make economic decisions to convert resources into goods and services. Without demand. There is any reason to convert the resources.
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.
Economic decisions involve doing what with resources to produce goods and services for people to consume?
Allocating
Who controls the prices of goods and services in the economic system communism?
The government decides where to invest resources.
