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Steps in comuting cpi - Study guides, Class notes & Summaries

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ECON 101 EXAM REVIEWS WITH CORRECT ANSWERS

  • ECON 101 EXAM REVIEWS WITH CORRECT ANSWERS

  • Exam (elaborations) • 5 pages • 2024
  • ECON 101 EXAM REVIEWS WITH CORRECT ANSWERS what is economics? - CORRECT ANSWER-study of how a society manages its scarce resourses resources - CORRECT ANSWER-input, factors of production economy's resources - CORRECT ANSWER-1. labor 2. capital 3. natural resources 4. entrepreneurial ability labor - CORRECT ANSWER-physical capital (machines, buildings, roads) capital - CORRECT ANSWER-human capital (education, knowledge) scarcity - CORRECT ANSWER-nobody can have everything they...
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