ADMS 2200 Study Guide - Final Guide: Non-Renewable Resource, Association To Advance Collegiate Schools Of Business, Pearson Education

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Kim Snow

Document Summary

Topic: the anatomy of factor markets: profit is the factor price for, capital, land, entrepreneurship, labour, capital services. Aacsb: reflective thinking: coal is an example of, a nonrenewable natural resource, a renewable natural resource, capital, a common resource, capital. Parkin/bade, economics: canada in the global environment, 8e: water from the mackenzie river is an example of, a nonrenewable natural resource, a natural resource that can be used repeatedly, capital, a static resource, a capital service. Topic: the anatomy of factor markets: an example of a nonrenewable natural resource is, oil, lake erie, rain, sunshine, the st. lawrence river. 18. 2 the demand for a factor of production: firms hire labour, to minimize the average cost of the employment of labour, to exploit workers, to maximize profit, because capital is more expensive, to minimize costs. Topic: the demand for a factor of production: suppose a gift shop in corner brook newfoundland hires workers to personalize ornaments for christmas.