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What is the basic resource or factor of production?
No. Resources are generally synonymous with the term 'natural resources' which is called 'land' in economics. Factors of production are also known as inputs, and these usually include: 1) Capital2) Labour3) Human capital4) Land5) Technology
Economic resources are also known as?
Factors of production.
Which factor of production is used by manufacturing firms or a physical location?
The factor of production used by manufacturing firms or a physical location is primarily "land." This encompasses not just the physical space where manufacturing occurs, but also the natural resources available in that location, such as minerals, water, and energy sources. Additionally, "capital" is also essential, including machinery and equipment used in the manufacturing process. Together, these factors create the physical framework necessary for production.
How does technology affect factors of production?
technology greatly affect FOP, the main factor is that it reduces the need of the Labor an important FOP. also it contribute alot towards the capital ie made made resources
What is the concept of the production possibilities?
Production possibilities is the extent of production in businesses. Production possibilities can change if resources increase within a business. Increasing labor can also change production possibilities.
What is the basic resource or factor of production?
No. Resources are generally synonymous with the term 'natural resources' which is called 'land' in economics. Factors of production are also known as inputs, and these usually include: 1) Capital2) Labour3) Human capital4) Land5) Technology
Provide an example that represents limited resources?
Factors of production are also termed resources or scarce resources. This factor must be produced using other factors of production, which means that society is often, Farmland provides an example of the blur between land and capital.
Economic resources are also known as?
Factors of production.
Is glucagon also called the hypoglycemic factor?
hyperglycemic factor
What is the concept of the production possibilities?
Production possibilities is the extent of production in businesses. Production possibilities can change if resources increase within a business. Increasing labor can also change production possibilities.
How does technology affect factors of production?
technology greatly affect FOP, the main factor is that it reduces the need of the Labor an important FOP. also it contribute alot towards the capital ie made made resources
Are renewable energy resources are also called alternative energy resources?
No
What is production possiblities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is production possibilities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
Definition of industrial origin approach?
Industrial origin approach refers to contribution of resources from different sectors for the production of goods and services. This approach is also called value added approach.
What is production possibility curves?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
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.
