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Earn +20 ptsQ: Economists refer to the process of making something as production?
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Continue Learning about Economics
What do government economists focus on?
Government economists work for federal, state, and local governments in a wide variety of positions involving analysis and policy making.
What information can geographers provide to help economists making decision?
They can tell them which country they are living in.
What does a production team do?
they produce what the company is making
What primary economic activities are associated with making a pair of jeans?
Cotton production, dye production, and metal production (for the buttons and rivets).
What is the difference between labour and entrepreneurship as factors of production?
Labour is human physical and mental effort directed in a production process, and the reward for it is wage or salary. Entrepreneur is a self-driven factor employing all aspects of making a given product. Profit is the reward for that endeavor.
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