Duplicate of Factors of Production

The 3 questions that must be answered by the economic system are

For something to be SCARCE, it must be

Resources that are found in nature and used in the production of goods and services.

This economic systems includes free enterprise with some government control.

The economic system in which the buyers and sellers decide on goods (no government involvement)

What are the factors of production?

The government controls all aspects of the economy in which system?

What factor of production do you see in picture?

Land ,labor,capital and entrepreneurship are factors of Production

Nike just released a new idea for a shoe that ties itself. What factor is this?

What factor of production do you see in picture?

A cell phone would be considered a..

A tax on goods coming into the country is called

Differences among economic systems is in the way they answer three basic questions, which are

An opportunity cost is

What factor of production do you see in picture?

examples of entrepreneurship

A person who takes the risk to start their own business is called

The skills, talents, and education of people used in the production of goods and services

What factor of production do you see in picture?

Goods such as machines and tools, used in the production of other goods and services

Which is NOT one of the 3 economic questions?

What is 'economics'?

One of the factors of production enterprenurer can be defined as