production

Question 1

4 factors of production

Answer 1

land, labor, capital, entrepenurership,

Question 2

patterns of production

Answer 2

location and convenience

Question 3

what determines production

Answer 3

demand and recourses

Question 4

what do firms do when making decisions

Answer 4

balance pros and cons

Question 5

marginal analysis

Answer 5

comparing the costs and benefits of a little more or a little less

Question 6

marginal decision

Answer 6

considering a little more or less than we already have

Question 7

incentives

Answer 7

anything that motivities someone to do something

Question 8

types of incentives

Answer 8

gov tax incentives for businesses to do certain things ev rebates is also a incentive since it motivates you to buy a ev

Question 9

marginal benefit

Answer 9

the max a consumer is willing to pay for a additonal good or service

Question 10

marginal cost

Answer 10

change in cost over change is quantity

Question 11

negative incentives example

Answer 11

speeding tickets

Question 12

positive incentive

Answer 12

coupons and discounts

Question 13

efficiency and efficient situations

Answer 13

improving yourself will directly negatively effect someone else

Question 14

self vs social interests

Answer 14

its in the name