Natural resources human resources and capital goods are often referred to as factors of production. The example of economic resources are land labour capital.
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Air water and sunlight are not the economic resources.
. Which of the following is the best description of the origin of the economic problem of scarcity a Humans have limited wants for goods and services and resources are also limited b Humans have limited wants for goods and services and resources are unlimited c Humans have unlimited wants for goods and services but resources are limited. Economic resources are the scarce resources which help in the production of goods and services. The four economic resources include land labor capital and enterprise.
1 question Which of the following is an example of an economic use of a resource. The amount of labor available b. Products or output of the enterprise D.
The amount of the capital stock d. Economic resources are always controlled by the government. Land all natural resources Labor all physical and mental talents of individuals Capital all manufactured aidstoolsequipment used in producing goods and services and cash and.
Which of the following is not an element of fiscal policy. Which of the following statements regarding economic resources is true. Used in production of goods and services.
D Some economic resources are human-made while others are found in nature. If economic resources are perfectly interchangeable between the two products shown on a production possibilities. Economic resources include only money.
Personal investments and business investments. 6 Which of the following statements about economic resources is false. Microeconomics and macroeconomics.
Economic resources are the factors used for producing goods and services. Economic resources exist only at the individual level. View the full answer.
Which of the following would not be classified as an economic resource by economists. Which of the following is not a resource as the term is used by economists. Economic resources used in the production of goods and services can be categorized as.
What is true about economic resources. B Economic resources are also called factors of production. Obligations to pay money C.
Become economic when used to produce goods and services. C Economic resources are used to produce goods and services. Fiscal policy and monetary policy.
All of the following would affect the position of a countrye production possibilities curve except. The two broad fields that make up the subject of economics are. Ownership interest in other enterprises Part II In line with the subject Valuation.
Microeconomics is that field of economics which deals with individual and business levels. Land water coal oil wildlifevegetation weather conditions non-renewable use alternative capital resources any manufactured item that is used to produce goods and services. The land is an economic resource and it includes all the types of natural physical resources.
Which of the following is not among the economic resources of a business enterprise. If all the resources of an economy are in use more of one good can be produced only if less of another good is produced. Using a stream to supply water to a field in order to grow crops is an example of using.
A Economic resources include financial capital and money. Show Result Related MCQs. They are the inputs for the production like.
Economic resources can be divided into human resources such as labor and management and nonhuman resources such as land. This is because these resources are present in abundance which means they are not scarce. The countries use the natural resources to produce different goods and services.
The level of unemployment c. Buildings computers tools transform natural with human. If a government has a macro-economic policy objective of expanding the overall level of economic activity which of the following measures would not.
Economic resources are limited.
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