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Alla [95]
2 years ago
9

Which of these terms means "the level of satisfaction a need or want provides"?

Social Studies
1 answer:
Alexxandr [17]2 years ago
5 0
"Utility" would be the best option for "the level of satisfaction a need or want provides" in the realm of economics, since a person "utilizes" something in order to get this satisfaction. 
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Which of the following is NOT an example of organic solidarity? A. A Ford Motors employee assembling taillights on an assembly l
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Resources needed to provide goods or services are called
MissTica

Resources needed to provide goods or services are called factors of production  

<h2>Further Explanation: </h2><h3>Factors of reproduction  </h3>
  • Factors of reproduction are inputs or resources that are used in the generation of goods and services with an aim of making profit.
  • There are four main factors of production which include;
  1. Land  
  2. Labor  
  3. Capital  
  4. Entrepreneurship  
<h3>Land  </h3>
  • This refers to all the natural resources that are available to be used in the production of goods.
  • These natural resources includes raw materials from the ground, non-renewable resources such as petroleum and renewable resources such as timber.
  • The income or reward earned from land as a factor of production is rent.
<h3>Labor  </h3>
  • This refers to the manpower or work done by human beings.
  • The value of labor depends on the skills, education and motivation of workers.  
  • The reward for labor as a factor of production is wages and salaries.
<h3>Capital  </h3>
  • This refers to the capital goods, that is, man-made objects that are used for production of goods and services such as machinery, equipment and chemicals.
  • They also include industries and commercial buildings.
  • The reward or income earned from capital goods is interest  
<h3>Entrepreneurship  </h3>
  • It involves coming up with an idea and developing it into profitable business.
  • An entrepreneur is therefore an individual who combines the other factors of production to build a business and add the supply in the economy.
  • The reward or income earned by entrepreneurs is profit.

Keywords: Factors of production, labor, land, capital  

<h3>Learn more about </h3>
  • Factors of reproduction: brainly.com/question/4335697
  • Reward for factors of reproduction: brainly.com/question/3884238
  • Capital goods: brainly.com/question/11672036
  • Consumer goods: brainly.com/question/3227054

Level: High school  

Subject: Business  

Topic: Factors of reproduction  

8 0
2 years ago
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