Question:

Custom Economy- Relationship to Labor, Relationship to Capital?

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help me I need help explaining this. Thank you

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2 ANSWERS


  1. Could you please clarify your question?


  2. Labor and capital are primary resources for economy - third element is land (sometimes actually included in capital category).

    Place there these resources of production are combined is enterprise - it combines resources using technology to create output to satisfy demand of economy.

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