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Degger [83]
2 years ago
8

Is/are also called factors of production since they are transformed into output during the production process?

Business
1 answer:
Natali5045456 [20]2 years ago
6 0

Land,  labor, entrepreneurship and capital are called factors of production since they are transformed into output during the production process.

Factors of production are needed for the production of goods or a service.

Land as a factor of production include the every type of land and the various goods received from it such as oil, gold etc. It can be agricultural land to any real estate commercial land.

While defining labor as factor of production we use their potential to work.

Capital includes money used for performing various functions of production. It is the primary driver of the production.

Entrepreneurship is that element which combines all other factors of production to form a single product or service.

To know more about factors of production here:

brainly.com/question/988852

#SPJ4

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The Single European Act was put in place in an attempt to Multiple Choice convince Great Britain to remain in the EU. determine
Pani-rosa [81]

Answer:

Remove all impediments to the formation of a single market.

Explanation:

The Single European Act was signed in Luxembourg and the Hague in 1986.

The goal fo the Act was to create a single market by 1992 among the members of the European Community.

A single market is an economic bloc when barriers to the transit of goods and services, and to the transit of the factors of production (labor and capital).

8 0
3 years ago
What is a market economy regulated by?
miskamm [114]

Answer:

Producers and consumers :)

Explanation:

Market economies are run by buyers and sellers, there is no government involved.

6 0
3 years ago
Bob sold goods for $100 to a charge customer. The customer returned for credit $ 50 worth of goods. Terms of the sale were 3​/10
aev [14]

Answer:

The customer should​ pay $48.5

Explanation:

Terms of sale 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.

As per given data

Sale = $100

Sales return = $50

Receivable = $100 - $50 = $50

As the payment is made within discount period, so discount will be availed on the amount due

Discount = $50 x 3% = $15

Payment by Customer = $50 - $1.5 = $48.5

5 0
3 years ago
the authors cited statistical evidence that the price elasticity of demand for royal crown cola is -2.4, and the price elasticit
Mekhanik [1.2K]

Answer:

royal crown cola

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

 If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded

both companies have an elastic demand because their coefficient of elasticities is greater than 1. Coke has a higher elasticity as a result, consumers would respond sharply to changes in price. this makes them enjoy less brand loyalty when compared with royal crown cola that has a lower elasticity of demand

8 0
3 years ago
What is a subcontractor
egoroff_w [7]

Answer:

business or person that carries out work for a company as part of a larger project.

Explanation:

A hun

8 0
2 years ago
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