Answer and Explanation:
Factors of production are resources or inputs put into the production of goods and services. There are four factors of production. They are: land, labour, capital and entrepreneurship
Land is considered a non depreciablle factor of production. It refers to all natural resources or gifts of nature and income from it is called rent.
Labour is human capital or input in production example workers in a factory
Capital is man made goods utilized to produce other goods
Entrepreneurship/entrepreneur is the factor of production that organizes the other factors of production and carries the economic risk
From the example, the factors of production include:
The forest with all the wood which falls under land factor of production.
Bill who falls under labour factor of production
His father's chainsaw which falls under capital factor of production
Bill's idea to use logs of wood for Christmas tree business constitutes entrepreneurship and Bill is also the entrepreneur here. This falls under the entrepreneurship factor of production
A place to fish
Fresh drinking water
Good farming conditions
Provides trading routes
Paper currency or banknotes are pieces of paper that carry a payment promise for the currency written on them and which is payable to the bearer on demand. At the beginning, banknotes were issued by commercial banks that backed their value by holding reserves of gold and silver coins. Nowadays, its value is fiduciary, it is not backed by any physical good of the same value.
The development of paper currency by Song's dinasty meant a considerable improvement from merchants and traders at those times. Paper money was much easier to transport if compared to coins, both in terms of size and weight. Merchants could travel for a longer time carrying their profits with them on the way and became more efficient in their businesses.
Answer:
Ficou bom o texto mas tem que arrumar algumas palavras escritas errado
Explanation:
Answer: Statistic
Explanation: Both statistical value and parameter are numerical values on which mathematical functions can be carried out.
Statistical value is a representation of a feature of a sample such as the height of some of the individuals in a group. A parameter on the hand, is the numerical value of a characteristic of everybody in a group, such as asking every adult in the United States if they wash their hands after riding public transportation.
