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Natural capital and human resources are called the factors of what?
production
What are resources needed to produce goods and services called?
Factors of production
What is called the use of scarce resources for production of goods and services?
Rationing
What is meant by economizing resources?
The fators on which the economy depends are called the Factors of production.These factors are in fact the agents of production.They are used to assist the production of goods and services.The Factors used in the production process are called the IMPUTS and the resulting finished goods are called the OUTPUTS.The factors are divided into land,labour,capital and entrepreneurship.
Using resources in such a way as to maximize the production of goods and services is called?
Efficiency
What are resources used to make all goods and services called?
factors of production
Natural capital and human resources are called the factors of what?
production
What are resources needed to produce goods and services called?
Factors of production
What is called the use of scarce resources for production of goods and services?
Rationing
What is meant by economizing resources?
The fators on which the economy depends are called the Factors of production.These factors are in fact the agents of production.They are used to assist the production of goods and services.The Factors used in the production process are called the IMPUTS and the resulting finished goods are called the OUTPUTS.The factors are divided into land,labour,capital and entrepreneurship.
When considering the nature of the conversion the resources that comprise the major input are called the?
Major input resources in a conversion process are typically referred to as inputs or factors of production. These resources can include labor, capital, raw materials, and technology that are used to produce goods or services in a production system.
Using resources in such a way as to maximize the production of goods and services is called?
Efficiency
What is the definition of factors of production?
The resources used to produce goods and services.
What are resources used to make all goods and services?
factors of production
What are 3 examples of physical resources and their maining?
Land - refers to natural resources like water, minerals, and forests that are used for production. Equipment - includes machinery, tools, and technology used in the production process. Buildings - physical structures used for production, storage, and distribution of goods and services.
What are the National Resources?
Natural resources are materials or substances that occur in nature and can be used for economic gain, such as water, minerals, forests, and fossil fuels. Nations rely on these resources for energy production, agriculture, industry, and other essential needs. Sustainable management of natural resources is important to ensure their availability for future generations.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
