Nation a's real gdp was $520 billion in 2015 and $550 billion in 2016. its population was 150 milioni 2015 and 155 million in2נ 6.0the otherhand nation b's real gdp was $200 billion in 2015 and $210 billion in 2016; and its population was 53 million in 2015 and 55 million in 2016. which of the following statements is true? multiple choice

a. nation a's gdp per capita increased from 2015 to 2016, while nation b's decreased.
b. nation a's and nation b's gdp per capita both increased from 2015 to 2016.
c. nation b's gdp per capita increased from 2015 to 2016, while nation a's decreased.
d. nation a's and nation b's gdp per capita both decreased from 2015 to 2016.

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 utilities; more money you have to pay out ; )

answer( isp );