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RESOURCE PRICES: One of the five supply determinants assumed constant when a supply curve is constructed, and that shift the supply curve when they change. The other four are technology, other prices, sellers' expectations, and number of sellers. Resource prices, the prices paid to use the factors of production (labor, capital, land, and entrepreneurship) affect production cost and thus producers' ability to sell goods. In general, if sellers face higher resource prices, then they have less ABILITY to sell goods.
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FACTORS OF PRODUCTION Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Factors of production are also termed resources or scarce resources.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Few things help an individual more than to place responsibility upon them and to let them know that you trust them." -- Booker T. Washington
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EFT
Electronic Funds Transfer
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