The question requires us to determine the example of resources.

Question

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Answer 1

Question

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

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Answer 2

Question

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

Answer 6

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.

Economics Concept Introduction

Resources are the factors of production that help in producing final or intermediate goods.

Answer 7

Chapter 1, Problem 1CYU

To determine

The question requires us to determine the example of resources.

Answer 8

Expert Solution & Answer

Explanation of Solution

Resources or factors of production can be classified into four categories:

Land: Piece of land including timber, water, and other natural resources
Labor: skilled or semi-skilled workers
Capital: Machinery
Entrepreneurship: Strategies and innovation

Suppose a firm is producing paper for notebooks then the resources are:

Land: raw material from woods and plants
Labor: time spent on preparing paper by skilled or semi-skilled workers
Capital: Machinery and building for workers to work on.
Entrepreneurship: Strategies, management and skills of workers and head authority of the firm.