Factors of Production
This factor of production includes human labor and skills
Labor
Choice
Выбор
What does the supply depend on in the market?
Demand
Founder of Marxism
Karl Marx
What is the type of economy in North Korea?
Command economy
This factor of production refers to material resources used to create goods and services, such as land and natural resources.
Land
Gross Domestic Product
Валовый внутренний продукт
In economics, this is what a person uses to satisfy their needs and desires.
Goods
The founder of classical political economy
Adam Smith
What is the type of economy in France?
Mixed economy
This term refers to capital, including equipment, machinery, and buildings used in production.
Capital
private ownership
Частная собственность
Work efficiency
Productivity
The most influential living female macroeconomist
Carmen Reinhart
What is the type of economy in Belarus?
Mixed economy
This factor of production is related to entrepreneurial skills and the ability to organize other factors of production to create goods and services.
Entrepreneurship
raw materials
Сырье
The limited availability of resources compared to the needs and wants of people.
Scarcity
The first winner of the Nobel Prize in Economics
Paul Samuelson
What is the type of economy in the African Maasai tribe?
Traditional economy
What are the factors of production?
Factors governing the efficient use of resources to maximize income.
surplus
Избыток, излишек
The amount of goods or services produced over a specific period
Output
Rector of the Belarusian State University of Economics
Alexey Vladimirovich Egorov
A country with a market economy
There is no such country:)