It is called Factors of production. It is a financial term that depicts the data sources that are utilized as a part of the creation of merchandise or administrations keeping in mind the end goal to make a monetary benefit. The variables of creation incorporate land, work, capital, and business enterprise.
When a product is scarce, consumers are faced with conducting their own cost-benefit analysis; a product in high demand but low supply will likely be expensive. ... This means that a consumer should only purchase the product if they see a greater benefit from having the product than the cost associated with obtaining it.
Answer:
The material wealth of society is determined by the economy's productive capacity, which is a function of the economy's real assets.
Explanation:
Production capacity or <em>productive capacity</em> is the maximum level of activity that can be achieved with a given productive structure. The study of capacity is essential for business management in that it allows analyzing the degree of use made of each of the resources in the organization and thus have the opportunity to improve them.
<em>Real assets</em> are physical assets that have value due to their substance and properties. Real assets include precious metals, raw materials, real estate, agricultural land, machinery and oil. They are appropriate for inclusion in more diversified portfolios due to their relatively low correlation with financial assets such as stocks and bonds.
Answer:
Nominal GDP in year 1 = $16
Nominal GDP in year 2 = $25
Nominal GDP in year 3 = $36
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Nominal GDP is GDP calculated using current year prices
Nominal GDP in year 1 = 4 x $4 = $16
Nominal GDP in year 2 = 5 x $5 = $25
Nominal GDP in year 3 = 6 x $6 = $36
The best way to make an impression on your interviewer is to send a handwritten thank-you note within 48 hours after your interview.
<h3>What is an Interview?</h3>
An interview is an assessment of an individual. It is a structured conversation where one asks questions and the other provides an answer to the questions.
Interviews are used most times to know the qualification of an individual and to get to know more about the individual. To make an impression on the interviewer, it is advisable to send a thank you note to the interviewer within 48 hours after the interview.
Learn more about Interviews here:
brainly.com/question/8846894
