MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 2, Problem 2DQ
To determine
To discuss: the meaning of factors of production.
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Which are those economic goods which do not have any type of the physical characteristics they are intangible
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What are the four factors of production?
Are households primarily buyers or seller in the goods and services in the market? In the labor market?
Chapter 2 Solutions
MACROECONOMICS
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Similar questions
- Everything is made up of the four factors of production. Look at the shirt you have on right now. List the four factors of production and give a specific example of each which might have been used in the production of your shirt. You have to be specific with each factor. You cannot say "resources" or "land".arrow_forwardAre households primarily buyers or sellers in thegoods and services market? In the labor market?arrow_forwardState two important of each factors of productionarrow_forward
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