Five fundamental questions in economics

The main economic challenge is to choose the most efficient allocation of factors of production options to address the problem of limited capacity, which is caused by unfettered society's needs and limited resources. With information about their production capabilities, any society must answe ...

The law of increasing opportunity costs

Production possibilities curve shows that the increase in the production of one good is only possible due to the simultaneous reduction of the production of other goods. Content selection problem is that if an economic source used to meet the needs of society controlled, there always exists t ...

The problem of choice in the economy

Economic resources that can be used to meet the needs of society, are always limited, have a quantitative and qualitative limits. The ability to bypass the private restraints fundamentally change nothing. Limited resources is the fundamental problem of economics: if the resources were available i ...

The subject and the means of labor

As the social production is in the form of joint activity of people possible to identify two of its sides: · Relationship of people to nature; · Ratio between the people in the production process. The first side of social production, which means the ratio of men to natur ...

Concept and types of economic resources

In the most general sense resources - is money, values, resources, opportunities, sources of funds, income. Usually, especially allocate economic resources - all that is necessary for the production process. It should be noted that along with the concept of "resources of production" ...

Concept, types and value (cost) goods

No society, no one can exist without the satisfaction of needs. Funds things that are suitable to meet the requirements referred to benefits. Good - this object, phenomenon, process, product of labor, satisfying a human need and meets the interests, goals, aspirations of people. Some bene ...