Answer: resource
A ______ can be defined as whatever people use to create services and goods.
Economic. In economics a resource is defined as a service or other asset used to produce goods and services that meet human needs and wants. Economics itself has been defined as the study of how society manages and allocates its scarce resources. Classical economics recognizes three categories of resources also referred to as factors of production: land labor and capital.
Money can be defined as anything that people use to buy goods and services .Money is what many people receive for selling their own things or services . There are many kinds of money in the world. Most countries have their own kind of money such as the United States dollar or the British pound.Money is also called many other names like currency or cash.
Also called resource cost advantage. The ability of a party (whether an individual firm or country) to produce a greater quantity of a good product or service than competitors using the same amount of resources. abandonment of the gold standard The decision by a government to abandon a monetary system in which the standard economic unit of account is based on a fixed quantity of gold …
In the article “Veblen Bourdieu and Conspicuous Consumption” (2001) A. Trigg defined conspicuous consumption as the behaviours whereby a man or a woman can display great wealth by means of idleness—expending much time in the practice of leisure activities and spending much money to consume luxury goods and services .
Goods are capable of being physically delivered to a consumer. Goods that are economic intangibles can only be stored delivered and consumed by means of media.. Goods both tangibles and intangibles may involve the transfer of product ownership to the consumer. Services do not normally involve transfer of ownership of the service itself but may invol…
Economic. In economics a resource is defined as a service or other asset used to produce goods and services that meet human needs and wants. Economics itself has been defined as the study of how society manages and allocates its scarce resources. Classical economics recognizes three categories of resources also referred to as factors of production: land labor and capital.
Money can be defined as anything that people use to buy goods and services .Money is what many people receive for selling their own things or services . There are many kinds of money in the world. Most countries have their own kind of money such as the United States dollar or the British pound.Money is also called many other names like currency or cash.
Also called resource cost advantage. The ability of a party (whether an individual firm or country) to produce a greater quantity of a good product or service than competitors using the same amount of resources. abandonment of the gold standard The decision by a government to abandon a monetary system in which the standard economic unit of account is based on a fixed quantity of gold …
In the article “Veblen Bourdieu and Conspicuous Consumption” (2001) A. Trigg defined conspicuous consumption as the behaviours whereby a man or a woman can display great wealth by means of idleness—expending much time in the practice of leisure activities and spending much money to consume luxury goods and services .
Goods are capable of being physically delivered to a consumer. Goods that are economic intangibles can only be stored delivered and consumed by means of media.. Goods both tangibles and intangibles may involve the transfer of product ownership to the consumer. Services do not normally involve transfer of ownership of the service itself but may invol…