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What is the opportunity cost of increasing the production of laptops by 1 000 in the hypothetical country mentioned in the study guide? 18 000 mobile phones. 4 000 laptops 8 000 laptops 8 000 mobile phones$2.83
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What is the opportunity cost of increasing the production of laptops by 1 000 in the hypothetical country mentioned in the study guide? 18 000 mobile phones. 4 000 laptops 8 000 laptops 8 000 mobile phones
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Course
Economics IA
Institution
University Of South Africa (Unisa)
Owners of natural resources earn income through the payment or rent they receive for the use of the natural resources.
Started on Monday, 31 July
2023, 11:59 AM
State Finished
Completed on Wednesday, 2
August 2023, 8:44
AM
Time taken 1 day 20 hours
Marks 13.00/15.00
Grade 86.67 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual
work;
that I will not communicate with anyone else
in any way during the completion of this
assessment;
that I will not cheat in any way in completing
and submitting this assessment.
What are the three main groups of resources
classified in economics?
Man-made resources, human resources,
and capital resources.
Natural resources, human resources, and
financial resources.
Natural resources, human resources, and
man-made resources.
Natural resources, social resources, and
man-made resources.
Resources include everything in the world
around us that we can use to produce goods
and services to satisfy our needs and wants. It
is classified into the following three main
groups:
· natural resources, such as land, water,
minerals, animals and plants
· human resources, such as entrepreneurs
or labour such as economists, builders,
architects, accountants, lawyers and cleaners
· man-made resources such as machines
and infrastructure that are available to use to
produce goods – in economics we call these
resources capital.
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