How the various market economies manage the five factors of production that include labor, capital, entrepreneurship, physical resources, and information resources


Description

Business organizations today operate in a global economy and deal with other businesses in three primary economic systems, which include planned economies, market economies, and mixed market economies. Many times organizations have operations in multiple countries operating within different economic systems. In order to operate effectively, one must understand how the various market economies manage the five factors of production that include labor, capital, entrepreneurship, physical resources, and information resources.

Chapter 1 discusses the three major economic systems operating in the global economic system and the five factors of production are also defined

Write a 2-3 page paper explaining the three major economic systems operating in the global economic system and demonstrate how each of the five factors of production relates to each of the economic systems. Ensure the following points are addressed.
The three primary economic systems must be defined.
The differences between the three economic systems must be identified.
The five factors of production: labor, capital, entrepreneurship, physical resources and information resources must be defined with examples.
How the five factors of production relate to each of the economic systems must be explained.

Order with us today for a quality custom paper on the above topic or any other topic!

What Awaits you:

• High Quality custom-written papers

• Automatic plagiarism check

• On-time delivery guarantee

• Masters and PhD-level writers

• 100% Privacy and Confidentiality

The post How the various market economies manage the five factors of production that include labor, capital, entrepreneurship, physical resources, and information resources first appeared on homeworkcrew.

Thanks for installing the Bottom of every post plugin by Corey Salzano. Contact me if you need custom WordPress plugins or website design.

Looking for a Similar Assignment? Our ENL Writers can help. Get your first order at 15% off!

Order

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp
%d bloggers like this: