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What is the income people receive for supplying factors of production such as land labor or capital called?
Wiki User
∙ 9y ago
They are called factor payments.
Wiki User
∙ 9y ago
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What is a production period that allows changes only in variable inputs?
This production period is called the short run production period. This means that the amount of capital in the firm is fixed and cannot change because it takes time for the firm to receive ordered capital. In this situation the firm must change labor and materials (variable inputs) in order to maximize profits. The opposite of the short run production period is the long run production period. In the long run all inputs are flexible and the firm can theoretically maximize profits at any level of capital.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
What is the difference between GNP at market price and GNP at factor cost?
GNP at factor cost refers to income which the factors of production receive in return for their service alone. GNP at FC = GNP at Market Price - Net Indirect Taxes + Subsidies
What is the tonnage market?
The "tonnage" or "supply scheme" market, is composed of large-volume users who usually receive gas via a direct pipeline from an on-site production facility.
What are the two sector model in economics?
In a two sector model there is no government control. There are just two sectors (1) the households (2) the firms. No government control means there would be no taxes, no subsidies and no social security. Also Economy will be a closed one meaning NO TRADE. House hold will supply factors of production to firms and will receive income in against them and thus they will use these incomes to buy what ever has been produced by firms. Where as firms will hire factors of productions and will pay house holds and will produce goods and service which are to be used by house holds and thus will receive income in against them NOTE: One sector's expenditure is another sector's income.
What is a production period that allows changes only in variable inputs?
This production period is called the short run production period. This means that the amount of capital in the firm is fixed and cannot change because it takes time for the firm to receive ordered capital. In this situation the firm must change labor and materials (variable inputs) in order to maximize profits. The opposite of the short run production period is the long run production period. In the long run all inputs are flexible and the firm can theoretically maximize profits at any level of capital.
What are the four economic questions?
-What should the economy produce? Market economies use price to answer this question. For example, Product X at a very high price may not sell, thus producers may stop making the product. -How should goods/services be produced? Producers combine resources (consumers sell factors of production) to make products they can sell. Price of factors of production influence producer decisions to make or not to make a product -Who should receive the goods/services produced? Incomes limit choices and decisions of consumers as they respond to price in the marketplace. Consumers earn incomes based on their contributions (factors of production) to production of goods/services. -How should the economy provide for growth? Producers increase the supply of goods and services in response to price in the marketplace. Consumers earn increased incomes as they respond (offer their labor or capital) to the price of factors of production.
Do both genders receive capital punishment equally?
Both genders do in fact receive capital punishment equally. This is of course only the case if they are of legal age.
What capital city does London trafalgsar square receive it's Christmas tree from?
Oslo, the capital of Norway.
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yes
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one person, movie or production team can receive an Academy Award.
Why would you receive an expense check from Capital One na?
No dea
What did the South receive in the compromise over the war debts between Hamilton and Jefferson?
The capital was moved to the South
What is the difference between GNP at market price and GNP at factor cost?
GNP at factor cost refers to income which the factors of production receive in return for their service alone. GNP at FC = GNP at Market Price - Net Indirect Taxes + Subsidies
How many Tony Award nominations did the original Broadway production of Camelot receive?
10
What is the mandatory sentencing for a person who commits capital murder in Texas?
If convicted of capital murder in Texas, and they do not receive the death penalty then it will be life without parole.
