Answered: economy. The market where consumers…

economy. The market where consumers earn income by selling resources to business resources is called Market. * O Consumer Factor O Labor O All of These

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.

Question

Unit 3 Midterm Economics
/Final
QLSfDzcagnpq9EUKBs3AWMb5MsoULfcR31kz13cINbzmXuoc7-w/viewform?hr_submission=Chkl
The rules of the price system operate in all markets of a capitalist/market
economy. The market where consumers earn income by selling resources
Market. *
2 poir
to business resources is called
Consumer
Factor
O Labor
All of These
None of These
is the type of demand and supply that changes only when price
2 p
changes. "
Effective

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