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intangible items such as going to the circus
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
a form of government where there is increased government involvement and everything is based on the welfare of the people
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
value added by having a product at a certain time of year or a convenient time of day is:
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
The point on a supply and demand curve where quantity demanded is equal to the quantity supplied
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
The economic resource that includes all natural resources found in the earth, sea, and air
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
The three basic economic questions are:
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
Value added by having a product where customers can buy it is
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
value added by exchanging a product for some monetary value
what to produce, how to produce, for whom to produce
Socialism
service
land
possession
place utility
time
equillibrium
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