Which of the following is NOT a factor of production? The effort of farmers raising cows for milk. The water used to cool a nuclear power plant. The wages paid to workers. The entrepreneurial skill of a small business owner.

Q: What is the main goal of a firm in a market economy? (a) To maximize social welfare (b) To minimize…

A: The main goal of a firm in a market economy is typically considered to be:(b) To minimize costs.In a…

Q: definition of products, goods and services

A: TO understand the definition of these terms, we need to understand that goods and products are used…

Q: You have been working as a manager of fashion store. During your work you have saved $50,000. You…

A: Explicit costs are the actual out of the pocket expenditures of the firm to purchase or hire the…

Q: A summary of The Four Factors of Production?

A: The four factors of production are land, labor, capital and entrepreneurship. These are the…

Q: Describe the five factors of production.

A: Certain inputs are necessary for economic systems to function properly. The factors of production…

Q: You work for the Committee for Economic Evaluation in the small nation of Kinsdale. Your current job…

A: GDP is the gross domestic product.  GDP is defined as the monetary value of all the goods and…

Q: Using the list on the bottom what are "service" components and "physical goods" components? a new…

A: Physical goods refer to the products that are tangible. It can be durable or non durable. Service…

Q: Give action words that Best describe farming starting with the letter found in the word f-a-r-m.

A: F - Feed, Fertility, Fertiliser, Farmland A - Afforestation, Arable, Agrochemical R - Ranch, Reap,…

Q: importance of market structure

A: In economics, market structure refers to how various industries are categorized and distinguished…

Q: In which type of culture do businesses and people make and spend money?…

A: The question is asking about the type of culture where the activities of making and spending money,…

Q: Identify the three main types of economic activities. Then tell one way that all three are similar…

A: Identify the three main types of economic activities:- Primary sector activities:- All activities…

Q: A MEASURE OF HOW WELL AN ECONOMY PERFORMS IN TERMS OF PRODUCING GOODS AND SERVICES THAT MEET THE…

A: Economic performance depicts the accomplishment of financial targets either for a firm or for the…

Q: Opportunity cost You decide to spend $80 on some great shoes and do not pay your electric bill

A: Opportunity cost is defined as the cost of something which is sacrificed for the other thing &…

Q: Please no written by hand and no image According to the Washington Post article The Downsides of…

A: Demand is the desire backed by a willingness to pay and the ability to pay by an individual. The…

Q: Recall an issue or situation indicating that production is relevant to making everyone better off.…

A: When a product is put into the manufacturing process, costs occur and various factors of production…

Q: Which of the following is a factor of production at a university? electricity Scantron sheets the…

A: Factors of production refer to the inputs needed to create a good or service, and the factors of…

Q: What are the environment in which business operates?

A: The business environment is considered to be an essential aspect of any business. A competitive and…