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What are natural resources that are used to make goods and services?
labor
Why did the world economy depend on the strength of the us economy in the 1920?
It strengthened U.S. labor unions. U.S. factories produced half of the world's industrial goods. The European Union became irrelevant as a trade partner
What was colonial manufacturing?
Colonial manufacturing refers to goods produced in colonies. Many European colonies in the East were used as sites of manufacturing because the labor costs were lower in these countries.
How did the industrial revolution change the way Americans produced goods?
The industrial revolution revolutionized the way Americans produced goods by transitioning from manual labor to machine-based manufacturing. This led to increased efficiency, productivity, and scale of production. It also resulted in the development of new industries, such as textiles, steel, and mechanized farming, which transformed the American economy and contributed to its rapid growth and urbanization.
How was labor different after the industrial revolution then it was before?
There was a shift from individualized to mass methods of producing goods.
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
What is labor demand dependant upon?
the amount of goods and services produced
What is The amount of goods and services produced from each unit of labor input called?
Productivity
What is labor production?
it is yellow
What best explains the role that labor has in the production of goods and services?
Land,labor, and capital are all resources of production necessary to produce goods and services.
What is the difference between the revenue that a business gets for its goods and services and the cost of producing the goods and services?
Labor
Which statement BEST explains the role that labor has in the production of goods and services?
land,labor, and capital are all resources of production necessary to produce goods and services
What is means through which goods and services are produced?
The means through which goods and services are produced refer to the resources and factors of production utilized in the creation process. These typically include land (natural resources), labor (human effort), capital (machinery and tools), and entrepreneurship (the ability to organize and manage production). Together, these elements contribute to the efficient production and distribution of goods and services in an economy.
What Labor operates capital to create?
goods and services.
Goods prouduced for the pupose of making other goods and services are called?
The hiring of labor power only results in the production of goods or services.
What is supplied by households in the circular flow of goods and services.?
Labor
What are natural resources that are used to make goods and services?
labor
