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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.
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 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 is 6 continuous months of declining production is called?
Six continuous months of declining production is referred to as a "recession." This term typically applies to economic activity as a whole, indicating a significant downturn in various sectors, including manufacturing and services. Recessions are characterized by reduced consumer spending, lower business investment, and rising unemployment.
Consumer what is the condition under which all economic processes are ultimately focused upon for satisfying the wants and needs of consumers?
Consumer sovereignty is where their preferences determine the production of goods and services. Normally consumers do not determine what they get, the get what is offered by the seller.
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 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
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 question must be asked in order for economic production to take place?
How is production to be organized
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
