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Why do some economists consider human resources more important than natural resources in determining a countrys future?
In order to produce the Natural Resources more effectively and obtain the more out of them humans have to be capable of understand completely the necessities and uses of the products available and how to produce more and better.
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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.
What do economists consider factor of production?
enumirate the different factor of production?
What do economists consider to be land?
Dams, Bridges, Rock Quarries, Oil Wells.
How would an economists consider price and cost to be different?
Economists distinguish between price and cost in that price refers to the amount a buyer pays for a good or service, while cost refers to the expenses incurred by a producer to create that good or service. Price is determined by market dynamics, including supply and demand, whereas cost encompasses factors like production expenses, labor, and materials. Understanding this difference helps economists analyze market behavior, profitability, and the allocation of resources.
What factors do economists consider to be economic resources?
Generally, economic resource (reward): Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). Combined with management and economic risk taking and specific needs of the market give output.
Why do economists consider human resources more important that natural resources in determining a countrys future?
Human resource contains immense importance and plays a fundamental role in the development of a country. skilled and trained human resource is necessary for proper utilization of natural resources. since human resource is an active ingredient while natural resource is passive in a way of development
Why do ecomonists consider human resources more important than natural resources?
Economists consider human resources more important than natural resources because human capital means the country have many skilled workers. These workers earn for themselves, provide goods and services to the consumers, attract foreign investors, and lead to more growth for the country.
When determining the number of significant digits in ameasurement?
It is important to consider the precision of the measuring equipment.
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.
What measurements are important to consider when determining bicycle frame sizes?
When determining bicycle frame sizes, important measurements to consider include the rider's height, inseam length, and arm length. These measurements help ensure a proper fit and comfortable riding position.
What are the most important factors to consider when determining road bike measurements?
When determining road bike measurements, the most important factors to consider are your height, inseam length, reach, and riding style. These measurements will help ensure a proper fit and comfortable riding experience.
What do economists consider factor of production?
enumirate the different factor of production?
What are the most important factors to consider when determining kids bike measurements?
When determining kids bike measurements, the most important factors to consider are the child's height, age, and inseam length. These factors will help ensure that the bike is the right size for the child, providing a comfortable and safe riding experience.
What do economists consider to be land?
Dams, Bridges, Rock Quarries, Oil Wells.
What are some important factors to consider when determining the optimal placement for cabinet lighting?
When determining the optimal placement for cabinet lighting, important factors to consider include the size and layout of the cabinets, the type of lighting needed (task or ambient), the color and material of the cabinets, and the desired ambiance in the room. Additionally, consider the power source and wiring requirements for the lighting fixtures.
Should all resources be shared equally?
While equitable access to resources is important, it may not always be feasible or effective to share all resources equally. Different situations may require varying distribution methods based on factors like need, merit, or sustainability. It's essential to consider fairness and inclusivity when determining resource allocation strategies.
What considerations should be made when determining the epic sizing for a project?
When determining the epic sizing for a project, it is important to consider the scope and complexity of the work involved, the resources available, the timeline for completion, and the overall goals and objectives of the project. It is also crucial to assess the potential impact of the epic on the project as a whole and to prioritize epics based on their importance and urgency.
