Why is money not considered to be a capital resource in economics? Why is entrepreneurial ability considered a category of economic resource, distinct from labor? What are the major functions of the entrepreneur?

Q: What are the three factors that impact productivity? Provide an example for each factor describing…

A: A firm employs many factors of production (capital , labor , land and entrepreneurship) and each…

Q: How do economies of scale affect business models in manufacturing industries, and how can smaller…

A: Economies of scale refer that when a manufacturing company starts their production on large scale it…

Q: Human capital refers to society’s understanding of the best ways to produce goods and services.

A: ‘Human capital’ refers to the compilation of ‘skills’, ‘education’ , ‘technical’ & ‘process…

Q: Imagine that you have an "eatery" business, enumerate and briefly discuss your factors of production…

A: The different factors of production include capital, land, labour, and entrepreneurs. These are…

Q: What is the difference between interest and profit? Who earns interest, in return for what…

A: The disparity between a company's income from its outputs and the opportunity costs of its inputs…

Q: When you take a loan from a bank, this is an example of what? Financial economics Home economics…

A: Economics is a part of social studies that is further classified into different sections such as…

Q: Which of the following answer is correct ? Factor of production: getting a loan through a local…

A: The inputs which are needed to produce a good or a service are known as factors of production. They…

Q: What is productivity? Describe the factors of productivity.

A: Productivity is the ratio of output to input which are used in the process of production. It is the…

Q: Why Is the private ownership of resources such an important characteristic of a capitalist economic…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What "Economic profits are positive or negative " mean in terms of opportunity cost?

A: Opportunity cost defines the value of the next best choice that is given up when making a choice. It…

Q: 14. Your business profits have increased. Instead of putting that money into your personal bank…

A: Disclaimer :- as you posted multiple questions we are supposed to solve the first one only. But 14…

Q: If profit is necessary to sustain economic activity, why is fixation on making money (greed) killing…

A: The necessity of profit for sustaining economic activity is undeniable, as it fuels innovation,…

Q: What are Positive Economic Profits?

A: For understanding the meaning of positive economic profit, we will first look into the concept of…

Q: Economics? 2. How does it relate to microeconomics?

A: Managerial Economics  Managerial Economics  is a part of economics matters including the utilization…

Q: Describe the five factors of production.

A: Certain inputs are necessary for economic systems to function properly. The factors of production…

Q: Adam Smith did not considered ________ as one of the component of production

A: According to the given question The components of the production in economics can be classified into…

Q: Which of the following attributes is most closely associated with a necessity entrepreneur? A.…

A: An entity or organization that is being engaged in activities including professional, commercial, or…

Q: 57. The three broad types of productive resources are A. O Money, profit and interest B. O Capital,…

A: To find : What are three types of productive resources.

Q: What is opportunity cost? As scarce resource, financial capital has opportunity cost. What…

A: Opportunity cost is associated with almost every resource used by individuals when making social and…

Q: What are the four basic factors of production? Provide at least one example of each factor of…

A: Production is the process of creating goods and services that satisfy human wants and needs using…

Q: Explain the process of accumulation as Smith and Marx saw it (Note: The descriptions by Smith and…

A: Since you have asked multiple questions, we will answer the first-two parts for you. If you want any…

Q: What role do these entrepreneurial competencies play in the success of the entrepreneur as well as…

A: The person who tends to start a business and is also willing to risk loss for making more money is…

Q: On March 23rd 2020, the UK entered into the first lockdown restricting business activities in…

A: Economic policy is defined as the set of strategies or measures taken by the government with the aim…

Q: Briefly list and explain each of the eight main shortcomings of the capitalist, free-market…

A: Owners of wealth, property, ability to traverse capital, or production ability in capital and…

Q: Which of the following statements about capital are correct?     a) In economic jargon capital is…

A: Capital refers to the assets, resources, or physical goods used in the production of other goods and…

Q: What impact do sewing robots have on capital per worker and human capital per worker? What impact…

A: Sewing robot is one type of robot they are  perform task automatically .Other robot are mostly…

Q: Why is economic cost known as opportunity cost? What are included in economic costs?

A: Opportunity cost refers to the cost of a foregone opportunity. The cost involved when an opportunity…

Q: In economics, what is the law of diminishing marginal returns? A. The tendency of firms to minimize…

A: The law of diminishing marginal returns is a key guideline in financial matters and assumes an…

Q: What is the difference between the rental price and the purchase price of capital?

A: In economics, the rental price (rk) of capital refers to the opportunity cost of hiring capital.…

Q: What is the difference between interest and profit? Who earns interest, in return for what…

A: The difference between the interest and profit would be mainly due to the difference between the…

Q: definition of standard economic theory

A: Economics: It relates to the production, distribution, consumption of goods and services.

Q: Which of the following statement is true? In an individualistic society, an individual's identity is…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: When the natural economic growth process begins in a capitalist economy A. the prices of capital…

A:

Q: Elaborate on your opportunity costs, if you decide to stop studying now and start working.

A: Opportunity cost is the next best alternative foregone.

Q: Is entrepreneur and entrepreneurship the same?

A: Entrepreneurs play an important role in economic development as a catalyst in the process of…

Q: What is the opportunity cost to the society of investing in capital?

A: Opportunity cost is nothing but foregoing opportunity of a project when other project is chosen.

Q: Ismael worked for Abdul until he was able to buy a piece of land where he can develop as…

A: Meaning of Factors of Production: The term factors of production refer to the situation under…

Q: Many economist and business leaders feel this is the most important factor in the Factors of…

A: The factors of production are the various types of inputs used in the production of final goods and…

Q: What is meant by flexibility in economic terms?

A: Meaning of Economics: The term economics refers to the situation under which there remains…

Q: Why isn’t money considered capital in economics?

A: Answering first question completely as per guidelines. Money is the world wide accepted medium of…