Answer:
Explanation:
The government needs to be on top of these situations because each of these factors plays a huge role in the wellness and size of a population. A market economy needs a certain healthy and large population in order to function correctly. The population needs to produce the products and services while at the same time purchasing those products and services from one another in order for the market cycle to function. If such factors as disease and pollution make people sick it will severely cripple the market economy.
Answer:
higher earning potential.
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Answer:
c) workers specialize in various production tasks.
Explanation:
The division of labor means that people, instead of performing a large number of tasks by themselves, only perform a few, or a single task, for which they specialize.
The division of labor is a characteristic of the modern economy, and without it, the levels of production and technology that we have today would not be possible.
Answer:
C. Market value of the inputs a firm uses in production.
Explanation:
Total cost is the summation of all cost incurred by a firm as a result of production. It is also market value of the inputs a firm uses in production.
Total cost refers to the summation of fixed cost, which is a cost that does not vary with the level of out put and variable cost, which varies with the level of output.
When producers manufacture goods, the total cost of production of such goods will be factored in the final price such that the producer is able to earn profit.
