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Which of the four factors of production must be prioritized?
The four factors of production (land, labor, capital and entrepreneur) must all present if you wish to improve the economic level of production.
Is not one of the 3 basic economic questions a. what to product how to productc.when to product. d from whom to product?
The question "when to produce" is not one of the three basic economic questions. The fundamental questions are: "What to produce?", "How to produce?", and "For whom to produce?". These questions address resource allocation, production methods, and distribution of goods and services in an economy.
What does sec of treasury do?
The Secretary of the Treasury is the head of the U.S. Department of the Treasury, responsible for formulating and implementing economic policies, managing federal finances, and overseeing the production of currency. This role includes advising the President on economic issues, managing government debt, and enforcing financial sanctions. The Secretary also plays a key role in international financial matters and works to promote U.S. economic stability and growth.
What is the economical factor?
The economic factor refers to various elements that influence the economy of a region or country, including supply and demand, production costs, consumer behavior, and government policies. It encompasses aspects like inflation rates, unemployment levels, interest rates, and overall economic growth. These factors collectively impact business operations, investment decisions, and consumer spending, ultimately shaping the economic landscape. Understanding these elements is crucial for making informed economic policies and business strategies.
What is the communal mode of production?
The communal mode of production refers to an economic system where resources and means of production are collectively owned and managed by a community rather than by individuals or private entities. In this system, goods and services are produced for communal benefit rather than profit, often emphasizing cooperation, shared labor, and equitable distribution. It is often contrasted with capitalist modes of production, where private ownership and profit motives dominate. This mode can be seen in various forms, including traditional communal societies and modern cooperative enterprises.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Why is GDP an imperfect measure of the total production in the economic?
because it include all production values, so it is imperfect measure of the total production in the economic.
What are the major economic activities of the Persian Gulf?
Major economic activities in the Persian Gulf and interior areas of the region include oil production, farming, and gas production.
What is Tertiary Production?
Tertiary production is part of the three sectors of the economic theory. The tertiary production refers to the creation of intangible goods and provides services to the two other sectors of economic theory.
What is economic mode?
A state of equilibrium in the production of goods and services within the economic parameters in consumption,investments,savings and the forces of supply and demand for production.
What question must be asked in order for economic production to take place?
How is production to be organized
In the circular flow model economic resouces is both production and the factors of production?
True
In the circular flow model economic resources is both production and the factors of production?
truetrue
What does efficiency of mass production mean in economic terminology?
what dose mass production mean
What are universal economic constants?
The Universal Economic Constants are Production, Investment, Savings and Consumption.
When a factory invests to speed production which economic question is being answered?
traditional economic
What has the author Gerhard Rosegger written?
Gerhard Rosegger has written: 'The economics of production and innovation' -- subject(s): Economic aspects, Economic aspects of Technological innovations, Production (Economic theory), Technological innovations
