Answer:
1. Allocative inefficiency.
2. Technical or productive inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
The four factors of production are;
I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.
II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.
IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).
These four (4) factors of production when combined effectively and efficiently are used for the manufacturing or production of goods and services that meets the unending requirements or needs of the consumers.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs.
2. Technical or productive inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
Answer:
they were able to raise crops because the land was a terrace which was a plain path of the grass where people could raise crops
This is an example of Rhonda's power.
Even though Rhonda came across some hurdles in her path (in this case, they were physical hurdles in the form of protesters in front of an abortion clinic), she still managed to get what she wanted, despite the protesters. This is a testament to her power, as well as power of her will and strength of her convictions and desires.
Imported goods.
Explanation:
Tariffs increase the prices of imported goods. Because the price has increased, more domestic companies are willing to produce the good, so Qd moves right. This also shifts Qw left. The overall effect is a reduction in imports, increased domestic production, and higher consumer prices.
Answer: Simoom is an Arabic word that means “poison wind.”
Thats why nothing looks the same after
Explanation
