Purpose of Economic Activity
Purpose of Economic Activity
The purpose of the economics activity is to satisfy the needs of the society
Purpose of Economic Activity
The purpose of the economics activity is to satisfy the needs of the society
What are the three Ps every society has to ask itself? What to produce How to produce Where to produce
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 Labor refers to the people who are employed to perform business activity