Business, 12.11.2020 14:00 claraesson5581

Please giys help me, I need to pass it

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Answer from: gedntrxAa

Factors markets:

A factor market is a market in which companies buy the factors of production or the resources they need to produce their goods and services. Anything used in making a finished product—labor, raw materials, capital, and land—make up a factor market.

The superstar Phenomenon:

The 'Superstar Phenomenon' explains how a celebrity like a singer or an athlete can earn exceptionally high incomes.

The labor market:

The labor market is in equilibrium when supply equals demand; E* workers are employed at a wage of w*. In equilibrium, all persons who are looking for work at the going wage can find a job. ... A competitive market maximizes the gains from trade, or the sum P + Q.

Answer from: Quest

i would ask my boss to do more things around the car shop. and i would slowly work my way up to working on cars and becoming a full time mechanic.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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