What are the three Ps every society has to ask itself?
What are the three Ps every society has to ask itself?
What to produce
How to produce
Where to produce
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What is scarcity?
11 May, 2016
What is scarcity? Scarcity is when the wants are unlimited and the resources and limited. This leads the person or the government to make a choice.
Factor of Production: Labour
11 May, 2016
Factor of Production: Labour Labor refers to the people who are employed to perform business activity
Factor of Production: Land
6 May, 2016
Factor of Production: Land Land refers to the natural resources and land used for a business activity