Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Factors of Production
Factors of production are the resources that are utilized to manufacture goods and services:
1. Natural resources:
The things developed by acts of nature like water, land, mineral, oil and gas deposits, nonrenewable and renewable resources.
2. Labor:
The human effort either physical or mental, utilized by workers in the manufacturing of goods and services.
3. Physical capital.
All the buildings, machines, equipment, roads and other objects created by human beings to manufacture goods and services.
4. Human capital:
The knowledge and skills taken by a worker by education and experience.
5. Entrepreneurship:
The effort to combine the manufacturing and sale of goods and services. Entrepreneurs take risk and commit money and time to a business without any assurance of profit.
Assume that the market for lamb is perfectly competitive. Using an appropriate model (or models) illustrate and explain a. How a competitive market arrives at equilibrium
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
Nations trade what they produce in excess of their own consumption to:
Illustrate and explain the changing demand for big mac using the indifference curve and budget line.
sylos labini model of limit price
if the inverse demand curve is p=120-Qand the marginal cost is constant at 10, how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welf
Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt
Functions of the WTO: The WTO performs the following functions: • It administers through various councils and committees the 29 agreements contained in the final act of
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd