Hello.
The answer is: its on a <span> peninsula.
Its surrended by water so it was easy to trade and it is beside the </span>Tiber and <span>Mediterranean sea. It is also used to get large amounts of lands.
have a nice day</span>
Answer: Input Prices have increased.
Explanation:
When an Economy sees prices rising but at the same time productivity is falling, the likely cause of that is an increase in Input prices.
Input Prices are the prices of the raw materials and other goods needed to produce finished goods. If these prices should rise, it becomes more expensive for producers to produce and they will therefore reduce the amount of goods they produce. This reduction in Quantity leads to an increase win prices because according to the Law of Supply and Demand, if supply reduces and demand remains the same then prices must increase till a new equilibrium is reached.
For example, imagine a hypothetical Economy of Steel Makers. If the price of Iron changed from $5 to $10, producers who were producing 20 units of Steel will see their costs double and react by producing only 10 units of Steel to maintain cost margins thereby dropping Productivity.
The 20 units of Steel used to be sold in the market at $20 but now that the supply has dropped to 10 units, the price doubles to $40 to cater for this reduction in Quantity.
The factor of production that the computers represent is physical resources.
Factors of production refers to the resources that are used for production. Example of factors of production include land, labor, capital, entrepreneurship, physical resources etc.
Physical resources simply means the tangible items that a business uses for its operation. Examples of physical resources include buildings, raw materials, machinery, computer systems etc.
In conclusion, computer is a physical resource.
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The concept her is "the real cost of something is what you must give up to get it"
<u>Explanation:</u>
As we come across trade-offs it is a necessary to make decisions on the next best alternatives which is the principle of opportunity cost.
Opportunity cost is the benefits and advantages that a business entity or an individual loses on choosing one alternative decision over the other. It is calculated with the help of the following formulas,
Or,
In economical terms, choices are measured in terms of opportunity costs.
Real GDP will increase ONLY WHEN OUTPUT INCREASES. Increase in GDP indicates economic growth. Real GDP is a measure of the economic output adjusted for inflation. GDP is very important because it can be used to estimate the value of total spending in an economy.
