Chapter 2 in Economics

question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Interest
answer

It is the income payment for capital
question

Entrepreneur
answer

He is someone who combines land, labor, and capital to produce goods and services.
question

Entrepreneur
answer

He is the one who assumes the risks in the quest for profit
question

Entrepreneur
answer

He is also the manager, the supervisor, or the innovator and also thd risk-bearer
question

Normal profit
answer

It is the income payment for entrepreneurs
question

Nomal profit
answer

It is always positive
question

Profit or pure profit
answer

It can be positive, negative or even zero
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Interest
answer

It is the income payment for capital
question

Entrepreneur
answer

He is someone who combines land, labor, and capital to produce goods and services.
question

Entrepreneur
answer

He is the one who assumes the risks in the quest for profit
question

Entrepreneur
answer

He is also the manager, the supervisor, or the innovator and also thd risk-bearer
question

Normal profit
answer

It is the income payment for entrepreneurs
question

Nomal profit
answer

It is always positive
question

Profit or pure profit
answer

It can be positive, negative or even zero
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Interest
answer

It is the income payment for capital
question

Entrepreneur
answer

He is someone who combines land, labor, and capital to produce goods and services.
question

Entrepreneur
answer

He is the one who assumes the risks in the quest for profit
question

Entrepreneur
answer

He is also the manager, the supervisor, or the innovator and also thd risk-bearer
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Interest
answer

It is the income payment for capital
question

Entrepreneur
answer

He is someone who combines land, labor, and capital to produce goods and services.
question

Entrepreneur
answer

He is the one who assumes the risks in the quest for profit
question

Entrepreneur
answer

He is also the manager, the supervisor, or the innovator and also thd risk-bearer
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.
question

Scarcity of resources
answer

The fundamental problem in economics
question

Book of Genesis
answer

The story of creation in which scarcity is not thr problem
question

Classification of resources
answer

Land, labor, capital, entrepreneur
question

Land and capital
answer

Non-human resources
question

Labor and entrepreneur
answer

Human resources
question

Cost of production
answer

The payment for the factors of production
question

Land
answer

It refers to God-given resources used in production.
question

Land
answer

It includes all natural resources, such as mineral deposits, water resources, wild animals and trees from the forest.
question

Rent
answer

Payment for the use of land
question

Labor
answer

It refers to the physical and mental exertions of man to produce goods and services.
question

Wages
answer

It is a general term used for the payment of labor
question

Capital
answer

It is a man-made resource used to produce other goods and services.

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