1. Presented by:- Abhishek AgrawalKoushal Changoiwala 2. CONTENTS1) What is Production.2) What is Factors of Production.3) Basic Factors of Production. • Land and its Features.…

PART IV CONCEPTS AND PROBLEMS IN MACROECONOMICS Measuring National Output and National Income 21 CHAPTER OUTLINE Gross Domestic Product Final Goods and Services Exclusion…

1. BY RIYA 2. FACTORS OF PRODUCTION • In economies, factors of production are inputs to the production process and the finished products are output. • There are 3 basic…

Slide 1 Slide 2 Systems Slide 3 Is an organized way for a country to decide how to use its productive resources; that is, to decide what, how, and for whom goods and services…

1.chapter 1UNDERSTANDING THE U.S. BUSINESS SYSTEMChapter OverviewBusinesses are organizations that produce or sell goods or services to…

1.chapter 1UNDERSTANDING THE U.S. BUSINESS SYSTEMChapter OverviewBusinesses are organizations that produce or sell goods or services to…

1. Law of Variable Proportion By Mr. Prasant Kumar Behera Assistant Professor & HoD I/c Department of Economics Central University of Orissa Koraput, Odisha, India [email protected]…

ECONOMICS Contributed by: Dr. Monica Gupta 1. Which of the following is an example of how the question of "what goods and services to produce?" is answered by the…

Chapter 1 Introduction Multiple-Choice Questions 1) Which of the following is an example of how the question of "what goods and services to produce?" is answered…

Slide 1 What is scarcity? (Look in your notes) Why is scarcity an important factor in economics? (Look up the definition of economics) How does scarcity effect the price…