Is organisation a part of factors of production?

Q: what is micro?

A: Economics is the study of choices in the case of scarcity that means some decisions are made such as…

Q: Write the production function (human capital (H) being included in TFP) and explain the content of…

A: Production function: Y = F(K,L,H,A)

Q: What is the marginal cost of capital?

A: Marginal cost denotes an addition to the total cost that incurred in the process of producing an…

Q: Who owns and who controls the major factors of production?

A: An economy includes all production of goods and services, all selling and buying and all employment.…

Q: What are the characteristics of factors of production Only three characteristics

A: According to the given question The factors of production are also known as the productive resources…

Q: Factors of production

A: The final goods and services served in the market for the consumers. There are some factors that use…

Q: in the production process is central to why th The role of States is rich and most of the rest of…

A: Land, labor, capital, and entrepreneurs are factors of production for any nation. These factors help…

Q: What is the importance of stages of production?

A: There are three stages of production,and they are important for businesses to understand and analyze…

Q: Average production and managerial production and the difference between them

A: Factors of production are regarded as the building blocks with which output can be produced by the…

Q: What are Positive Economic Profits?

A: For understanding the meaning of positive economic profit, we will first look into the concept of…

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: Why do you think the various factors of production is an important concept of economic in…

A: Increases in the quality and quantity of the factors of production, which are divided into four…

Q: Compare and contrast human capital, H, and physical capital, K. How is H different from labour, L?

A: Physical capital refers to a factor of production or input in the production process. A…

Q: Define production and What are the factors of production and what are their reward payments?

A: In economics, we answer the three basic questions: what to produce, how to produce, and for whom to…

Q: What are the stages of production?

A: The production function shows the technical relationship between factor of production and final…

Q: Match each Factor of Production with its example. Land Labor Capital Entrepreneurship III Cornfield…

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

Q: Which is not a factor of production?  Money Land Labor Capital

A: The factors of production are factors inputs and resources that are used to create the final…

Q: What mix of inputs should be used to produce a given level of output?

A: The production function refers to the function that determines the maximum quantity of output that…

Q: Question: a) :What is the importance of capital? b): How many types are in the division of labour?

A: Answer is given: The importance of capital is given as:

Q: The factors of production are best defined as the a. output produced from raw materials. b. inputs…

A: The common factors of production are land, labor, capital and enterpreneurship ability. Land earns…

Q: Describe the service economy briefly, and the nine supersectors.

A: According to the United States Census Bureau, the service sector produces intangible goods, more…

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: What is the definition of economic

A: Microeconomics is the discipline of economics that studies how people and businesses react to…

Q: What is capital and enlist the types

A: Meaning of Capital: The term capital under financial institution refers to the situation when an…

Q: While traveling by car during one of his many overseas travels, a famous economist spotted scores of…

A: Human capital refers to skills set, knowledge, specialization. It is not physical or tangible…

Q: Productivity relates to producing the same output with more labor hours. working harder over time.

A: Productivity implies producing more output by using the same amount of resources or producing the…

Q: What are the economic significance of the stages of production

A: In economics, production is defined as a process of combining various inputs to make goods and…

Q: What is the importance of stages of production?

A: There are 3 stages to the production process which are as follows: 1. "Output increases at an…

Q: _____ using more capital than labor in the production process?.(fill in the blank)

A: Production process is the process in which inputs are used to make output for consumption.  Capital…

Q: What is B/C ratio? How do you calculate B/C ratio?

A: B/C ratio stands for Benefit-Cost ratio. It compares the present value of benefit expected from a…

Q: 65. Which of the following is NOT an input? A. O Labour B. O Entrepreneurship C. O Natural resources…

A: As we know to produce something we need factors of production called input . And with the help of…

Q: How does TripAdvisor use the four basic inputs of an economic system?

A: Introduction: An economic system, sometimes known as an economic order, is a system for producing,…

Q: Average labor productivity is the A- amount of output per worker B- amount of workers per machine C-…

A: In economics, productivity refers to the ability of an input resource to generate output.

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…

Q: Characterize the different factors of production by identifying their roles in the production…

A: In financial frameworks, the responsibility for of production is thought to be with families, who…

Q: In the production model developed and presented in classes, which of the following is NOT an…

A: An exogenous variable in an economic model is one whose value is determined outside of the model and…

Q: Discuss the factors of production and how it can be accessed.

A: Factors of production are important for carrying out business activities and for overall economic…

Q: In what way is a college degree a form of capital?

A: ‘Capital’ refers to the assets(which include plants, equipment,  physical tool etc) which…

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: Create a mind map of the important concept/s of ECONOMIC ORGANIZATION.

A: Organizational economics is a field of economics that investigates interactions within particular…

Q: What is the relationship between average production and managerial production?

A: Total product refers to the output amount that can be produced by a given amount of variable factor,…

Q: Explain how households and firms interact in the factor market and in the product market

A: Market: It is an arrangement between buyers and sellers for exchanging goods and services for money.…

Q: Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra…

A:

Q: Karl Marx referred to the business owners as

A: The struggle between social classes tends to define relations in an economy that would be leading…