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Explain how the production of services differs from the production of manufacturing goods give two example?
In the game of economics, which of the following players use goods and services?
What is an example of an intermediate good and how does it contribute to the production process?
An example of an intermediate good is steel used in the manufacturing of cars. Intermediate goods are products that are used in the production of other goods or services. In this case, steel is essential in the production process of cars as it is used to make the car's frame, body, and other components. Without steel, the production of cars would not be possible, highlighting the crucial role of intermediate goods in the production process.
What is the relationship between taxation and production?
the relationship between taxation and production is that taxation is the process where by a business firm provides a certain amount of money to the national government after doing a certain transactions while production is the creation of goods or services for exchange and satisfying human needs or wants their relation is that both of them works on increasing government income, and their depending to each other, for example without production there wont be taxation because taxes are mostly collected from the production of goods and services.
What are three factors that influence the rate of production in a country?
The amount of goods and services that nations produce relates to consumers, laborers, technology, and ecology. For example, in order for a product to sell, people have to want it, and businesses have to create efficient ways to distribute it. Also, environmental changes impact worldwide commerce.
What is a capital good example and how does it contribute to the production process?
A capital good is a long-lasting tool or equipment used in the production of goods or services. Examples include machinery, buildings, and vehicles. Capital goods contribute to the production process by increasing efficiency, reducing labor costs, and improving the quality of output.
Explain how the production of services differs from the production of manufacturing goods give two example?
In the game of economics, which of the following players use goods and services?
Briefly discuss Wages with the help of example?
Payments for the applications of human efforts for the production of goods and services is termed as wages.
Write a definition for each of the resources needed for production. Give some example?
Factors of production are as followsLandLabourCapital : capital are those already-produced durable goods that are used in production of goods or services. eg: machinesEnterprise
Is North Korea attempting to achieve autarky?
Yes. Autarky is defined as being completely self-sufficient, as a country, in the production of goods and services. North Korea is a perfect example of why attempting autarky in a modern economy is completely nonsensical. No country can provide all of the types of raw materials and foodstuffs necessary to sustain the levels of population and industrial production prevalent in any modern society.
State and explain the four factors of production giving one example in each case?
Factors of production are the basic inputs used in the production of goods and services. It includes land,labour,capital and entrepreneurship. By Lamptey Samuel Boafo
Tow truck is an example of what factor of production?
A single example of a capital factor of production is a tow truck. The technology, machinery, equipment, and tools utilized in the production of products and services are referred to as capital. A tow truck falls under the capital category as it is a piece of equipment utilized in the towing and recovery sector.
What is an overhead?
An overhead is a cost that is not directly related to the production of a specific good or service but that is indirectly related to the production of several goods or services. For example, the cost of maintaining an office or factory - lighting, heating etc.
What is an example of the tertiary sector?
The tertiary sector is that part of a country's economy that is related to providing services rather than goods. An example would be the banking industry.
What is an example of an intermediate good and how does it contribute to the production process?
An example of an intermediate good is steel used in the manufacturing of cars. Intermediate goods are products that are used in the production of other goods or services. In this case, steel is essential in the production process of cars as it is used to make the car's frame, body, and other components. Without steel, the production of cars would not be possible, highlighting the crucial role of intermediate goods in the production process.
What is the relationship between taxation and production?
the relationship between taxation and production is that taxation is the process where by a business firm provides a certain amount of money to the national government after doing a certain transactions while production is the creation of goods or services for exchange and satisfying human needs or wants their relation is that both of them works on increasing government income, and their depending to each other, for example without production there wont be taxation because taxes are mostly collected from the production of goods and services.
Is there a Socialist country in Caribbean?
Cuba is the perfect example of a Communist/ Socialist country in the Caribbean.
What is drama production?
Production Drama is drama within a production of some sort, for example a musical or an Opera.
