What are economic resources
What are economic resources? What are the major functions of the entrepreneur?
Expert
Economic resources are of four main types: labor, land (natural resources), real capital (machines, factories, buildings, etc.,) and entrepreneurs. Economic resources are also called factors of production or inputs in the productive process. Economic resources are essential to create the outputs desired by society as these names imply. Since certain outputs are desired, they command a price and so, therefore, do economic resources. This can lead to some things being economic resources in some circumstances but not in others. Water in the middle of a lake, for example, is not an economic resource: Anyone can have it free. But the same water piped to a factory site is no longer free: Its movement must be paid for by taxes or by a specific charge. It is now an economic resource because the factory owner would not pay for its delivery unless the water was to be used in the factory’s production.
Elucidate “Ticket Scalping: A Bum Rap”?
What was rightward shift of PPC point out? Answer: It points out growth of the resources.
This is difficult for firms within highly competitive markets to exploit consumers since: (i) consumer advocates organize boycotts that generate bad publicity. (ii) market pressures force fair distributions of products. (iii) the government sets price
Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?
Briefly describe High operating leverage?
Write down the common factors influencing capital structure?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
Briefly explain the term Earnings per share (or EPS)?
Can someone help me in finding out the right answer from the given options. The Taft Hartley Act of 1946 made it illegal to encompass a: (1) Right-to-work law passed by the state legislature. (2) Conviction for the misdemeanor and serve as union officer. (3) Union for the agricultural migrants or go
Elucidate various national currencies of foreign exchange market?
18,76,764
1934607 Asked
3,689
Active Tutors
1459006
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!