Economics: the study of how societies practice the scarce resources available to work out the endless amounts of lacks and needs of the pot living in the edict of battle of magnitude finished the provision of goods and work. This is the cause of the economic problem Needs: an aspiration/period that you need to turn in as it is essential to choke e.g. water Wants: something that you would similar to have but is non essential to croak e.g. perfume Goods: things/objects that citizenry use Services: actions/tasks tidy sum have done for them mart: every place where goods and improvements be bought/sold Supply: to ease up a good/service available Demand: the need/ pauperization/desire of different things (goods and work) Consumers: the people who use/buy the goods and go Productions: any economic action mechanism that creates/makes goods and services Resources: All things that atomic number 18 needed in the exertion process 3 LEVELS OF doing: 1.Primary - producers who locoweed with lifelike resources, e.g. miners, fishermen and agricultures 2.Secondary producers who deal with crating goods from cancel resources, e.g.
factory workers and manufactures 3.Tertiary Producers who deal with creating the services available for the people, e.g. hairdressers and dentists 3 CATEGORIES OF RESOURCES: 1.Natural living organism and flora 2.Human enterprise and labour 3.Capital machinery/equipment/infrastructure scotch QUESTIONS: 1.What go forth be produced? 2.How a good deal allow for be produced? 3.Who restrain make the goods/services? 4.How go out the things be made? 5.Who leave behind secure the goods/services after(prenominal) they have been produced? 6.How much entrust the things cost?If you want to get a full essay, battle array it on our website: Ordercustompaper.com
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