Answer: B Topic: Factors of Production Skill: Recognition Status: Previous edition, Chapter 1 AACSB: Reflective Thinking 19) Factors of production include A) the economic system. B) land, labor, capital and entrepreneurship. C) labor and capital (not land, which is fixed). D) only capital,...
Behavioral economics enriches the traditional economic model by incorporating psychological insights into human behavior, examining how emotional, cognitive, and social factors influence the economic decisions of individuals and institutions. It all started with Adam Smith Modern economics started with a Scott...
C. Rapid economic growth. D. Decreased trade. 相关知识点: 试题来源: 解析 C。解析:文章中提到“The rise of emerging countries is a result of several factors. One of the key factors is their rapid economic growth.”,新兴国家崛起的关键因素之一是快速的经济增长。
Factors of production are grouped into four categories: Land Labor Capital Entrepreneurship Two Big Economic Questions The “gifts of nature” that we use to produce goods and services are land. The work time and work effort that people devote to producing goods and services is labor. The ...
Like life, change is the only constant in business and markets as well. Despite the fact that mostexternal economic factorsare beyond the control of even the policymakers of the country, they have to be kept in the foreground while decision-making. They can have an adverse effect on the pro...
How?Goodsandservicesareproducedbyusingproductiveresourcesthateconomistscallfactorsofproduction.Factorsofproductionaregroupedintofourcategories:▪Land▪Labor▪Capital▪Entrepreneurship TwoBigEconomicQuestions The“giftsofnature”thatweusetoproducegoodsandservicesareland.Theworktimeandworkeffortthatpeopledevoteto...
The most obvious causes are shocks like natural disaster, war, and geopolitical factors. An earthquake, for example, can destroy the infrastructure needed to produce important commodities such as oil. That forces the supply side of the economy to charge more for products that use oil, discouraging...
Economic factors in PEST analysis are those components pertaining to the economy. Economic factors in PEST analysis are how the surrounding economy...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
The study of economies and the factors affecting economies is called economics. The discipline of economics can be broken into two major areas of focus: microeconomics and macroeconomics. Microeconomics Microeconomicsstudies the behavior of individual people and businesses in order to understand why they...
An economic collapse is a breakdown of a national, regional, or territorial economy that typically follows or spurs a time of crisis.