Answer:
b. the management of limited resources to satisfy unlimited wants.
Explanation:
If the resources were unlimited, or the wants were limited, it would be quite possible to satisfy every single need and want in an almost automatic way - there would be no need for economy as such. Unfortunately, that is not the case, so we need to find ways to assign all our limited resources. That's where the government, the markets, the economic agents and the supply and demand step in.
It is in the market where we are able to trade our goods for other goods (e.g.: we trade our money for apples) - we have something, we need another thing, so we trade what we do have for what we don't have.
You cannot ask for a very high price in exchange for your good, because no one would want to buy it from you - they'd rather go see if the competition has a better deal for them.
On the other hand, what if all the sellers agree to sell their goods at a fixed price, or what if somehow one of them becomes the sole owner of the good? The consumer wouldn't have much of a choice, then, so the market would stop being efficient - supply and demand might not be adequately balanced around their equilibrium price. That's were the government and the market regulations come into the picture.
So, as you can see, the fundamental conflict of economics is that there are not enough resources to satisfy all our unlimited wants.
Answer:
The answer is B: the management of limited resources to satisfy unlimited wants
Explanation:
b. Consumers
c. Oil producers
d. Farmers
Answer:
Which of the following American groups benefited the most from China's turn toward capitalism?
b. Consumers
Explanation:
In order to understand it completely, first of all there is need to understand what actually happens in Capitalism.
Capitalism is a system where private sector of a country holds most of its productions, organisations and businesses. Resulting in effective running of the organisations. Organisations reach their heights in attaining success resulting in high profits. Moreover, organisations goes global and start their operations internationally with their products and services, which consequently, will be beneficial for the international consumers. International consumers will be getting better products in very much competitive prices. So, the same happened with the American Consumers, they benefited the most from China's turn towards Capitalism.
B. Equity capital
C. Franchise
D. Liability
Answer:
Capital Expenditures
Explanation:
Capital Expenditures -
It is the total amount which is spend on the tangible assets which used for more than an year for the business , is known as capital expenditures .
It is also known as Capex .
It increases the amount of service an
hence , from the question information , the correct term according to the given information is Capital Expenditures .
consumers who show an interest in a good.
employees needed to manufacture a good.
producers who supply the same good.
The option C is correct. The factors of production include the number of employees needed to manufacture a good.
Further Explanation:
The factor of production means the necessary inputs required to produce the goods. Without the factor of production, the producer is not able to produce the goods. The basic factor of production includes the land, labor, and capital. The company is producing a new facility for the first time. Therefore, it is considered as the basic factor of production.
Justification for the correct and incorrect answer:
A.
Customers needed to make a profit on the good: This option is incorrect.
The factor of production basically includes those which are necessary to produce the good. The customer is necessary at the time of sale
B.
Consumers who show an interest in a good: This option is incorrect.
If the customer shows interest in a good, then the producer may produce those goods. But this is not the factor of production.
C.
Employees needed to manufacture a good: This option is correct.
Labor is the one factor of production, without employees the producer is not able to produce the goods. This is the correct option that the factor of production includes the number of employees needed to manufacture a good.
D.
Producers who supply the same good: This option is incorrect.
Producers supply the same good is known as a competitor. Competitors are not considered as the factor of production.
Learn more:
1. Learn more about goods production
2. Learn more about the position in the organization
3. Learn more about organizational structure
Answer details:
Grade: Middle School
Subject: Economics
Chapter: Factors of production
Keywords: customer, number, factor of production, necessary inputs, employees, manufacture, to produce good, interests, make a profit, needed, basic inputs, new facility.