Business, 23.11.2019 10:31 davidoj13

Draw a graph which depicts long run equilibrium of transnet

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I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

In the 10th grade, i was teamed up in a group of four. our project was on modern history. altho it seemed super hard for many of us. patrick fleming took charge and showed us the understanding of this project. his leadership showed great ethics and it taught me, personally, how to others understand, not just to show them, but explain it thoroughly. and altho he was a great teacher i would have changed a few things. one being his attitude. many times he would get frustrated and impatient with the group. i think a leader i would have done exactly what he did but with much more patience and be there more to explain. such as lunch learning. and giving everybody a chance to try to explain it in their head.

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Draw a graph which depicts long run equilibrium of transnet...

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