How does the economy use its factors of production (land, labor, capital, and entrepreneurship) to facilitate economic growth?

1 answer:

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Economic growth can only be seen when there is an increase in quality and quantity of the factors of production so clearly it is a function of these factors. The purpose of economic organization – including all labor – is to create things that people value. Economic growth occurs when more and cheaper goods can be created.

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The Nile River was important to Egypt and Nubia because it...

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What is one measure of how much goods and services cost at a particular point in time?

IgorC [24]

Answer:

Answer letter (D)

Explanation:

The Consumer Price Index (CPI) is a tool that examines the average of prices of a basket of consumers goods and services.

The CPI is used as an economic indicator and is used as a measure of inflation and effectiveness of the government’s economic policies.

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