Economic Resources

In economics, economic resources are described as factors of production. They are usually classified into three groups: Natural Recourses These

Population

The population of a country can increase in two ways: When the birth rate is higher than the death rate,

Basic Economic Problem

INTRODUCTION Economic problem arises from scarcity of resource .Every economy faces scarcity of resources because their wants are unlimited and

Cost and revenue

Production is the result of effective combination of factors of production. The factors should have to be paid and are

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