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What does economist mean by the term Land?
all Natural Resources used to produce goods and services.
What term refers to method a society uses to produce and distribute goods and services?
Product market
What is the term for the amount of goods and services people can buy with the money they have?
standard of living
What is a term for the way a country's people manage money and resources for the production of goods and services?
That is an Economy.
What does an economist mean by the term land?
all Natural Resources used to produce goods and services To economists, the term land included fertile land for farming as well as the products that are in or on the land, such as coal or water.
What is meant by the term provide a services?
goods
What does an economist by the term land?
all Natural Resources used to produce goods and services To economists, the term land included fertile land for farming as well as the products that are in or on the land, such as coal or water.
What term indicated the exchange of goods and services between countries?
The exchange of goods and services between countries is called international trade.
Which term describes what a manufacturer spends for goods or services?
cost
What does an economist mean by term land?
all Natural Resources used to produce goods and services To economists, the term land included fertile land for farming as well as the products that are in or on the land, such as coal or water.
What is the definition of a capital good and how does it differ from other types of goods?
A capital good is a type of good that is used by businesses to produce other goods or services. It is typically a long-term investment in machinery, equipment, or infrastructure. Capital goods differ from consumer goods in that they are not directly consumed by individuals for personal use, but rather used in the production process to create other goods and services.
What is the term for a person who buys goods and services?
This is the economic definition of a consumer.
