Suppose that the price of wheat is always 32 and the home autarky price of sleel is 100. as before, 10 labor and 5 capilal is required to produce a ton of steel while 2 labor and 4 c either count i are needed to produce a ton of wheat in a the line along which the price equals the production cost for wheat is e+ r: □or: □w. b the ne along which the home autarky price of steel equals the production cost is□wa +□ra-□ora- c. with rent on the vertical axis, compare the slopes of the two pricing constraints - which is steeper? o a. wheat d- o b. neither c. steel d. the home autarky equilibrium wage paid to labor is wand rent paid to capital s

one of the disadvantages of getting a government sponsored mortgage is they put a limit on the purchase price of the house. because the government is in charge of the mortage loan and terms, they are able to control how much money they are allowing someone to take out for the loan. not only are they incontrol, it's a lengthy process for a government sponsored mortgage.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer target market;