Capital per year K₂ Figure 7.3.2 4₂ " Labor per year Refer to Figure 7.3.2 above. Which of the following changes, which causes the move from A to B? O a. The quantity to be produced O b. A decrease in the cost of capital r Oc. The budget of the producer Od. A decrease in the wage rate w
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- Define factors of production and describehow they contribute to output.The following table shows the production possibilities for the country of Erewhon: A CDEF Wine 10 18 24 28 30 Cheese 40 28 18 10 4 0 What is the total cost of producing the first 10 units of wine? O a. 24 units of cheese O b. 28 units of cheese O c. 12 units of cheese O d. 6 units of cheese B.Area of original paper 3.1.1 Complete the table above. lal paper change as htandia fokcs oto dsfterent laalves? wa the or th glain your anawer Describe he kind of relationahip between the ares of the original paper and the aumber of folds. 3.1.3 4. Mr Majola owns a shop where he repairs household appliances. He woulid like to buy a cell phone so that he can contact his customers after their work is done. Two different cell phone providers forwarded quotes to him upon request. Cell phone provider SAVE MORE quoted R80 per month and R2,50 per minute. Cell phone provider CASH IN quoted R100,00 per month and R2,00 per minute. Look at the incomplete table below: Airtime in minutes: t 10 20 30 40 50 60 SAVE MORE'S cost in rands: CM 80 105 130 155 Ass 380530 CASH IN'S cost in rands: Ca 120 140 160 240 340 460 100 4.1 What does the table above show? 4.2 Write down the symbol which represents the independent variable. 4.3 Where does the value 80 in row 2 come from? 4.4 Explain the situation if…
- What is the implication of a new technological change in the production on consumer.Which of the following is/are not a factor of production? O a. Enterprise O b. Land О с. Сapital O d. Cheque bookI don't know how to draw that graph and about those changes..Will u please help me to solve that issue?
- Meat (pounds) 120 A 90 D 60 В 30 Vegetables (pounds) 40 60 80 100 120 140 160 Point B is: O Infeasible Inconsistent Inconceivable O Inefficient 20Production possibilities Pizza Possibility In the above table, the production of 3 pizzas and 80 cases of soda is O feasible but would involve unemployed or misallocated resources. O possible only if there is inflation cono my produces with maximum efficiency. possible only if the ec O impossible uniess more resources become available or technology improves.is the only factor of production that needs to be produced. O Human resource ●Capital O Natural resources O Labor
- Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40Intrepreneursdometrik.ta e.only succes In economics, when discussing the factors of production, the term land refers to A) farmland. B) real estate. capital goods. D) all natural resources. Which term would be used to describe the wood that is used when building a houseAssume an economy where there are two producers: a wheat producer and a bread producer. In agiven year, the wheat producer grows 3 million tonnes of wheat, of which 2.5 million tonnes aresold to the bread producer at $30 per bushel, and 0.5 million tonnes are stored by the wheatproducer to use as seed for next years crop. The bread producer produces and sells 100 millionloaves of bread to consumers for $3.50 per loaf. Determine GDP in this economy during this yearusing the product and expenditure approaches.