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What term do economists use to describe the basic resources used to make all goods and services?
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What is the basis question that economics seeks to explain?
The basic economic question faced by all economists: How to satisfy unlimited needs and wants, when resources are limited.
What is the basic question economists try to answer?
i don't know, i'm trying to find that out as well ..
What is the basic task that economists expect the market to carry out?
deal with the fundamental problem of scarcity
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 do economists consider as basic resources or factors of production?
The most important resources or factors of production in economics (with their respective factor rewards in parentheses) are: Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). These factors, combined with management and economic risk taking, combine with other factors (specific to the industry) to produce output.
Why do economists need to find the answer to all three of the basic questions?
There are not enough resources to satisfy people's seemingly unlimited wants.
What is the basis question that economics seeks to explain?
The basic economic question faced by all economists: How to satisfy unlimited needs and wants, when resources are limited.
What are the 2 basic natural resources that economic systems allocate?
Money, goods & services
Form of capital resources?
Capital resources are items made and used to make other goods and services. The basic categories of capital resources are tools, equipment, buildings and machinery.
When market or governments make economic decisions about what goods and services their resources will be used to make what basic economic question are they answering?
What to produce
What is the basic question economists try to answer?
i don't know, i'm trying to find that out as well ..
What is the basic task that economists expect the market to carry out?
deal with the fundamental problem of scarcity
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 are the basic questions every society must answer?
What goods and services are to be produced with the limited resources of a society.? How can the limited resources be used to benefit the society? Who are to be benefited from the existing resources:? How can the economy change to the fluctuating environment? How can health and sustainability be addressed?
What are the basic resources used at samsung electronics?
what are the basic resources used at samsung?
When markets and governments make economic decisions what good s and services their resources will be used to make what basic economic question are they answering?
what to produce
Can you describe the three basic transformations?
can you describe the three basic transformations
