One of the main questions of economics involves deciding upon the method for Show
creating goods and services. Which of the following is an example of a labor resource? Which of the following best illustrates the importance of addressing the three questions of economics? Businesses need to use limited resources wisely. Which of the following is an example of a capital resource? Fantastic Snack Company has spent months developing a new type of snack chip, but the chips are not selling. Which of the following is the most likely mistake Fantastic Snack Company made? Not meeting the wants of its customers If a specific economy has extra capital resources available, it will be able to produce more goods and services needed and wanted by society. Which factors are considered when deciding how to make goods and services? Check all that apply. -methods traditionally used to make a good -ways to produce items at a lower cost or higher quality -ways to make the biggest profit Which of the following will be accomplished by efficient allocations of the factors of production? fulfilling many needs and wants of society Which of the following best illustrates deciding how to produce a specific product? Should we produce jeans with expensive machinery or less expensive labor? Which consideration must be addressed when deciding for whom to produce? Who has the greatest need? A society decides that it needs to produce more corn to feed the growing population. What must it do before it begins the production process? analyze existing resources, such as water availability The questions of economics address which of the following? Check all that apply. Which of the following will be accomplished by efficient allocations of the factors of production? guaranteeing economic success understanding whether a product will fail fulfilling many needs and wants of society replenishment of limited resources The following will be accomplished by efficient allocations of the factors of production: fulfilling many needs and wants of society. Question Asked 12/20/2019 6:28:15 PM 0 Answers/Comments This answer has been confirmed as correct and helpful. Rating There are no new answers. Question: Video Answer:  Get the answer to your homework problem. Try Numerade free for 7 days We don’t have your requested question, but here is a suggested video that might help. Related QuestionWhich of the following rewards accrues to the factor of production called"capital" DiscussionYou must be signed in to discuss. Video TranscriptThere are several restaurants. There is a question that rewards the factor of production called capital. We are supposed to know that it is a fact based version. Interest rewards accrue to the factor of production, which is called as capital. I am interested. The rewards agree. I'm sorry. There is a factor of production and a factor of production production. Okay, let's get this out of the way. Capital is thefactor of production. This is all about the answer to the question. Okay, students, that's all you need to know. US Capital is the interest factor of production. That's all you need to know. Thank you for that. Question: Video Answer: Get the answer to your homework problem. Try Numerade free for 7 days We don’t have your requested question, but here is a suggested video that might help. Related QuestionDistinguish between production efficiency and allocative efficiency. Explain why many production possibilities achieve production efficiency but only one achieves allocative efficiency.
DiscussionYou must be signed in to discuss. Video TranscriptThis is where I am. We are looking at the difference between productive and allocated efficiency. The first thing I did was production efficiency. Goods or services are produced at the lowest possible price. This is any point along the production possibilities frontier where you're using all available resources to the best of their extent. So once again, deficiency was broken. This is the cheapest possible price. The greatest benefit for societies is what another hand allocated efficiency is all about, proving at the lowest cost. Consumer preferences and willingness to pay are what affect those. In terms of production possibilities, Frontier is going to be a single point, and that single point is where society values that combination of goods, the highest. That's the difference between being productive and allocated efficiency. The possibilities are here. What would be accomplished by efficient allocations of the factors of production?Answer and Explanation: Efficient allocation of resources results in the fulfillment of many needs and wants of the society because when there is a proper allocation, the resources can be saved for future use.
Which factors are considered when deciding how do you make goods and services choose three answers?The factors of production in an economy are its labor, capital, and natural resources. Labor is the human effort that can be applied to the production of goods and services. People who are employed or would like to be are considered part of the labor available to the economy.
Which one is the factor that must be considered in identifying the goods or services to produce?Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Which of the following best illustrates deciding how do you produce a specific products?The correct answer for your question is option (A)-Should we produce jeans with expensive machinery or less expensive labor. Before producing a product that going to hit the market one have to decide how to make it even better.
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Which of the following will be accomplished by efficient allocations of the factors of production
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