Why isn’t money considered a capital resource in economics? Why is entrepreneurial ability considered a category of economic resource, distinct from labor? What are the major functions of the entrepreneur?

Q: My grandfather has many memories. When he was a child, everyone was singing "Happy Days Are Here…

A: The fluctuations in the economic activities will be categorized as phases of business cycles. These…

Q: In what specific ways (if any) does a college education increase a worker's productivity? Why do you…

A: The resources which are present with the economies, or societies around the globe tend to be limited…

Q: Human capital refers to society’s understanding of the best ways to produce goods and services.

A: ‘Human capital’ refers to the compilation of ‘skills’, ‘education’ , ‘technical’ & ‘process…

Q: Consider the factors of production that go intoa fast-food restaurant. Give an example of…

A: Factors of production are regarded as the building blocks as they are essential for the production…

Q: What is the name given to the value that laborers produce but are not paid for, that is instead…

A: Labor cost is the complete of wages, advantages, and finance charges paid to and for all…

Q: explain the importance of production function and how can we enhance the productivity of a factor.

A: The production function is the mathematical function that shows the relationship between the input…

Q: Which of the following answer is correct ? Factor of production: getting a loan through a local…

A: The inputs which are needed to produce a good or a service are known as factors of production. They…

Q: What is productivity? Describe the factors of productivity.

A: Productivity is the ratio of output to input which are used in the process of production. It is the…

Q: Why Is the private ownership of resources such an important characteristic of a capitalist economic…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: O A. Pine trees in the great northwestern US forests. B. a table saw used to produce furniture in…

A: Physical capital is called tangible asset and it is used for making product. These assets are man…

Q: the difference between mercantilism, liberalism, and Marxism. How does each view the purpose of…

A: Mercantilism was a trade-related economic policy that mainly existed from the 16th to the 18th…

Q: After you show that you're in an approved apprentice training program, you can receive up to _______…

A: There are different licensing requirements for an electrician an apprentice, journeyman or master…

Q: What in your view has led to an increase in the level of organisational competitiveness in modern…

A: Different economic enterprises compete for commodities that are limited by adjusting the parts of…

Q: What is the following explain why the United States has historically had a large number of…

A: The United States has historically had a large number of entrepreneurs due to various factors such…

Q: How does market structure relate to the real world of business in relation to managerial economics?

A: The section of economics that deals with decision making and choices is said to be managerial…

Q: How have the costs of entrepreneurship changed over the past decade? What forces are behind these…

A: Entrepreneurship has changed a lot in rhe past decade. Few decades back competition in enterprise…

Q: Explain the concept Multicollinearity? also examples of Perfect Multicollinearity?

A: Regression is the statistical method which is used to determine the relationship between the…

Q: Explain the Economic Function of the Entrepreneur

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: does the supply side of the market relate to the real world of business in relation to managerial…

A: Supply side economics deal with the supply of goods and services. It mainly deals with market from…

Q: what does elimination of bias mean when doing a research study

A: The research process is riddled with difficulties and pitfalls, and inexperienced researchers…

Q: My grandfather has many memories. When he was a child, everyone was singing "Happy Days Are Here…

A: A business cycle is a progression of stages in the expansion and contraction of the economy. It is…

Q: What is opportunity cost? As scarce resource, financial capital has opportunity cost. What…

A: Opportunity cost is associated with almost every resource used by individuals when making social and…

Q: What are the four basic factors of production? Provide at least one example of each factor of…

A: Production is the process of creating goods and services that satisfy human wants and needs using…

Q: Some types of technological changes reduce the cost of capital. Use the concepts of substitutability…

A: Some developments in technology increases efficiency that reduces cost of capital expenditure.

Q: Explain the process of accumulation as Smith and Marx saw it (Note: The descriptions by Smith and…

A: Since you have asked multiple questions, we will answer the first-two parts for you. If you want any…

Q: Economic freedom reflects the liberty managers have to decide endless aspects of everyday business…

A: The economics as a study is based upon the idea that the resources which the economies have tend to…

Q: ________ is a fundamental aspect of economic system in which individuals, rather than the state,…

A: Economic freedom or liberty is a fundamental aspect of an economic system in which individuals,…

Q: What is the significance of the mobility of factors of production (land,capital,labour,…

A: Factors of production: - The inputs that are used to produce goods and services known as the factors…

Q: t is an ideal industrial society?

A: Answer is given below

Q: What is the difference between Karl Max and Adam Smith in term of division of labour?

A: The separation of a work process into a number of jobs, each of which is carried out by a different…

Q: he concept and give other applications of the learning curve. What does 90 percent learning curve…

A: A learning curve refers to the graph that shows the relation between the performance of the learner…

Q: In Investment in Human Capital (1962) paper by Gary Becker, what were his key findings and why was…

A: Most people associate capital with a bank account, a hundred shares of IBM stock, assembly lines,…

Q: How does the demand side of market relate to the real world of business in relation to managerial…

A: Demand side economics addresses that giving tax breaks to rich people doesn't help the economy. It…

Q: Some scholars have asserted that “human resource planning is not an important function to be…

A: Human capital or human resource is a crucial input that organizations employ. As opposed to…

Q: Which of the following statement is true? In an individualistic society, an individual's identity is…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: What is the marginal efficiency of capital?

A: The marginal efficiency of capital plays an important role in determining the profitability of an…

Q: What is the difference between labor and human capital? How can human capital be increased?

A: A firm undertakes production for the purpose of earning profits. Production is made possible by the…

Q: When the natural economic growth process begins in a capitalist economy A. the prices of capital…

A:

Q: What is the opportunity cost of going to university? the total spent on food, clothing, books,…

A: The Opportunity Cost(OC)shows the possible benefits an individual, firm, or investor misses out on…

Q: Analyze the Economic Theory of Entrepreneurship.

A: The economic theories have a long and storied history in the field of entrepreneurship. Furthermore,…

Q: microcredit/microfinance, Banerjee and Duflo noted that entrepreneurship training, and financial…

A: Entrepreneurship refers to the ability to start a business and manage and run a small business.…

Q: Physical capital is A) the factories and machinery used to produce other goods and services. B) the…

A: In business and economics, there are numerous production elements or steps that go into creating a…

Q: Explain why Max Weber has a strong belief that the strong protestant work ethic is the key to the…

A: Max Weber, a German sociologist and economist, believed that the Protestant work ethic played a…

Q: Many economist and business leaders feel this is the most important factor in the Factors of…

A: The factors of production are the various types of inputs used in the production of final goods and…