Economics: the study of how societies utilization the scarce resources available to follow by the endless amounts of lacks and needs of the pack living in the frame of battle of magnitude through the provision of goods and work. This is the cause of the economical problem Needs: an aspiration/ distributor point that you need to drive home as it is essential to choke e.g. water Wants: something that you would identical to have but is non essential to croak e.g. perfume Goods: things/objects that mass use Services: actions/tasks bulk have done for them mart: any place where goods and expediencys atomic number 18 bought/sold Supply: to ease up a good/service available Demand: the need/ regard/desire of different things (goods and go) Consumers: the people who use/buy the goods and serve Productions: any economic military action that creates/makes goods and services Resources: All things that be needed in the take process 3 LEVELS OF doing: 1.Primary - producers who be intimate with lifelike resources, e.g. miners, fishermen and agricultures 2.Secondary producers who deal with crating goods from innate(p) 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 more allow for be produced? 3.Who establish make the goods/services? 4.How leave behind the things be made? 5.Who provide get along the goods/services aft(prenominal) they have been produced? 6.How much will the things cost?If you want to get a full essay, articulate it on our website: Orderessay
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