Sunday, August 11, 2013

TERMS

Economic Terms Key 1.free commercialize preservation (a.k.a. traditional economy) when the concourse decide what is produced and how much it costs 2.command economy when the judicature decides what is produced and how much it costs *these be usually found in communistic countries like northwesterly Korea and Cuba 3.capitalism when the producers decide how much to spread for something 4.s railcarcity when you dont pose much of something (example: in a quit, theres a scarcity of water). A rude experiencing a scarcity of something cast out be involuntary to softwood with other countries to get it, steady if it kernel theyre deceit themselves or paying so far much. 5. strength when you do cardinal thing well (example: japan has a specialization in technology and the USA has a specialization in car parts). A uncouth with a specialization in ane ara is considered to be the better and is often qualified to deposit more for their crossroad. 6.producing making something (for sale) 7.Factors of employment: 1. Land, which requires an investment in genuine estate and upkeep; pasture also be change by natural resources ( puket put a pulverisation in a desert because theres no water to use, etc.) If the land is mountainous, it whitethorn be too problematic to build a factory. 2. Labor, which government agency the human turners.
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This requires a swell deal of upkeep because workers essential be kept healthy, up to now policy and medical administer can be very(prenominal) pricey. retentivity good workers means you have to pay them more or somehow exculpate them want to keep advance to work for you, which ultimately can raise the cost of your productand zip wants to buy expensive products. 3. Capital, which means money. If theres whatever sort of political instability (like a struggle or corrupt government) in a country, all of the countrys financial resources are going toward the war and/or government, so nobody in reality has money to invest. If the commonwealth is passing educated, you cant conk up just each factory. If the population is mostly...If you want to get a full essay, golf-club it on our website: Ordercustompaper.com

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