Q: An example of physical capital is O a) a worker. O b) a college degree. Oc) a computer. O d) a new…
A: There are different types of inputs , physical capital, human capital, labor and land.
Q: According to the circular-flow diagram, factors of production are owned by Select one: a. firms O b.…
A: According to circular flow diagram, factors of production are owned by households. Which are land,…
Q: onsider a simple economy that produces two goods: pens and oranges. The following table shows the…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: In the circular-flow diagram, which of the following represents a factor market transaction? A)…
A: Answer: Answer: Correct answer: option (D) Explanation: circular flow represents the flow of goods…
Q: What is economic region of production? Describe with diagram.
A: An economic region of production can be referred to as an area of economic sense in which the…
Q: What was the value added by Carlo's Bakery?
A: Here the superior Nut company imports peanuts for $3,000,000 and crushes them into peanut butter and…
Q: 3. Which of the following is NOT a factor of production? Land, area to make things. O Labor, people…
A: Production is the process of combining the different inputs and materials to get consumable output.…
Q: In the simple-circular flow diagram, the flow of money from the firms to the markets for factors of…
A: Circular flow diagram is a model that shows how money flows among households and firms through…
Q: Name 4 factors that are likely to contribute to an improved rate of production
A: There may be many factors that can help to improve the rate of production.
Q: Within the simple circular-flow model, what do firms buy from households? O goods and services…
A: In a simple circular flow model, there are two sectors exchanging goods and services, and factor…
Q: Fix uestions 64% 1. Name the 3 Factors of Production.
A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…
Q: 1. State the three stages of production?
A: Production is process through which the inputs are converted into the output. Production is divided…
Q: 1. Explain the relationship between the terms in each of these pairs: c. factors of production…
A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: What is meant by the term cost of living? Define and explain it.
A: Cost of living is a way to calculate the minimum amount of money required to cover basic need of an…
Q: F B Consumer Goods D Capital Goods A,
A: Answer - Shift in the curve from AB to EF.
Q: 7. What are the four factors of production? Thanks
A: Factors of production: - factors of production are the resources used to produce goods and services.…
Q: classes.
A: The fourth period of globalization brings about the "smart" services and automation which would…
Q: Question b The output level on a AD/AS graph when all factors of production are being used is called…
A: The link between the total quantity of production demanded (measured in real GDP) and the price…
Q: worn out in the production process. ment Now IzMe: Section 2.7 uge your comprehension of this…
A: Production possibility frontier (PPF) or production possibility curve (PPC) shows different possible…
Q: Discuss “Land” as a special input of production?E xplain in deatail
A: Modern economists consider land as a special input of production, which can be used in several ways.…
Q: Think of one (1) Business establishment nearby.Identify the micro and macro environment Factors that…
A: When it comes to running a business, there are numerous variables to consider. Organizations do not…
Q: Indicate and discuss the three stages/phases of production by means of ahypothetical graph.
A: There are 3 stages of production which are defined through the law of DMR(diminishing marginal…
Q: What is differance between three sector ecnomoy and four sector ecnomoy
A: The three-sector economy involves three sectors namely: households business, and government .The…
Q: Describe each of the factors of production listed below: Land 4.1 42 Capital Labour 4.3 44…
A: "Since you have asked multiple questions ,we will solve fist question for you.If you want any…
Q: Distinguish between the resource market and the product market in the circular flow model. In what…
A: The market of resource exists where entrepreneurs of resources (example, households) supply the…
Q: In the circular-flow diagram, which of the following do firms NOT do? a. use factors of production…
A: In the circular-flow diagram, the following are done by the firms :a)The firm uses factors of…
Q: In what ways does franchising contribute to an overall economy?
A: Franchising is a process of marketing and distributing products where the owner of the business that…
Q: The three main factors of production are and
A: The three main factors of the production are Land, Labour and Capital
Q: (6) List and describe the 4 types of economic systems. I your description, be sure to define what an…
A: 6)4 types of economic system a)Planned economic system b)Unplanned economic system c)Mixed economic…
Q: Chinese investors decide to buy the Summerside golf course and build a resort hotel. The journal…
A: The student's reasoning can be explained as follows.
Q: An automobile manufacturer uses labor, capital, and a variety of intermediate goods in the…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: 1) In a circular flow diagram which one of the following transactions happens in the market for…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: , capital, natural resources, Look at the image below and give desrciption of your understanding of…
A: In the given diagram, there are two economic agents in the economy: Household: Owner of factors of…
Q: a)Distinguish between investment and capital, b) Explain the difference between an invention and an…
A: The economic activities and several other options of an economy are based upon certain components…
Q: 8) Which of the following are considered factors of production? LLand II. Labor III. Physical…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Many economist and business leaders feel this is the most important factor in the Factors of…
A: The factors of production are the various types of inputs used in the production of final goods and…
Q: Which
A: We know that , production process is facilitated by different factors such as land , labour…
Q: 1. 1he flowing data was for Phosphate Company, the output (Yi) in 2010 was 2 billion $. in 20011 was…
A: For different years of output we have different years cost associated with output. So the sum of C2i…
Q: _________ refers to man-made resources of production. a. Land b. Minerals c. Labor d. Capital
A: The factors of production is the inputs that are used to produce the product.
Q: The four categories of income in the economy are: O wages, rent, interest, profit O consumption,…
A: The inputs which are used for the production of a service or a good are referred to as factors of…
Q: The Batguano company produces 200 tonnes of fertilizer using only labour and capital. The fertilizer…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: oods and Services are exchanged and used As Final Consumption For Investment As Inputs in the…
A: Answer is given below
Q: Which of the following is a factor of production at a university? electricity Scantron sheets the…
A: Factors of production refer to the inputs needed to create a good or service, and the factors of…
Q: You are the sole survivor of a shipwreck on a desert island. You do not expect to be rescued. You…
A: Given, A sole survivor of a shipwreck on a desert island, not expecting to be rescued. With the…
Q: 77. which one of the followings is NOT a factor of production? O a. capital O b. land c. labor O d.…
A: Factors of production are the resources being used by people for producing goods and services and…
Q: In an economy:- Value of output = $30,000 Change in stock = $23,000 We have to calculate sales
A: The information being given is as follows:- Value of output = $30,000 Change in stock = $23,000…
Q: Explain how households and firms interact in the factor market and in the product market
A: Market: It is an arrangement between buyers and sellers for exchanging goods and services for money.…
Q: The outer flow in the circular flow diagram is measured in O goods and services produced O inputs…
A: In economics, the circular flow model is used to explain the relationship between three markets such…
Define factors of production and describe
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- A small company that shovels sidewalks and driveways has 100 homes signed up for its services this winter. It can use various combinations of capital and labor: intensive labor with hand shovels, less labor with snow blowers, and still less labor with a pickup truck that has a snowplow on front. To summarize, the method Choices are: Method 1: 50 units of labor, 10 units of capital Method 2: 20 units of labor, 40 units of capital Method 3: 10 units of labor, 70 units of capital If hiring labor for the winter costs $100/unit and a unit of capital costs 400, what is the best production method? What method should the company use if the cost of labor rises to $20/unit?What is a production function?Give the three reasons that explain why the division of labor increases an economys level of production.
- Hi can you please help with following questions I am not sure how to solve them please assist with question A You are the sole survivor of a shipwreck on a desert island. You do not expect to be rescued.You can either use your time to grow food to consume immediately, or to build new tools andbuildings (capital) which will increase your supply of food in future years. a) Sketch your initial production function (total output of food + capital in terms of yourlabour input), and show how to turn this into a feasible set. Show your optimal choiceof how you spend your time, assuming you initially consume everything you produce.what are the 5 internal economics of scale ?1.Explain how a firm uses resources price and value data to determine the appropriate combination of capital and labor resources to use in order to maximize profits. 2.how does this change when the firm want to produce a specific quantity of product with the least cost combination of resources? 3. if a software firm estimates that the MP of labor is 3 apps per month and the price is labor is $1100 per month, while the MP of capital is 5apps per month and its price is $2000, should the firm hire more labor and decrease its capital use or increase its use of capital and use fewer labor resources?
- Which of the following is/are not a factor of production? O a. Enterprise O b. Land О с. Сapital O d. Cheque book-50 Eleanor and her little brother Josh are responsible for two chores on their family's farm, gathering eggs and collecting milk. Eleanor can gather 10 dozen eggs or collect 5 gallons of milk per week. Josh can gather 2 dozen eggs or collect 2 gallons of milk per week. a. The family wants 2 gallons of milk per week and as many eggs as the siblings can gather. Currently, they collect one gallon of milk each and as many eggs as they can. How many dozens of eggs does the family have per week? ‒‒‒‒ (Click to select) Edozen eggs. b. If the siblings were to specialized, which should collect the milk? (Click to select) c. If the siblings were to specialize, how many dozens of eggs would the family have per week? (Click to select) dozen eggs.12. What are the four factors of production? Thanks asap do it
- ] Suppose that a football team is holding tryouts for various positions. A certain playertries out for both offensive line and defensive line. He ends up making the team as an offensivelineman. However, he is actually better at the defensive position. He is puzzled by this so he asksthe coach to explain. What do you think the coach told the player? Relate this to an economicconcept or concepts we have discussed.As an economist it is important to know that resources are scarce. Explain what u understand that resources arenscarce in economic termsMeat (pounds) 120 A 90 D 60 В 30 Vegetables (pounds) 40 60 80 100 120 140 160 Point B is: O Infeasible Inconsistent Inconceivable O Inefficient 20