Economics A Very Wide And Expansive Topic Essay

Economics is a very wide and expansive topic, the topics of economics could be explained in several sub topics, now what is economics to be more specific what macroeconomics is. Macroeconomics the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity. When it comes to economics their 4 type of resources, land, labor, capital, entrepreneur ship, and these are known as the factors of production, now the best resource out of all the 4 four types of resource is capital, capital in my opinion is the main factor which yields the most production, to an economy, and here is why that is, and more in depth of the 4 factors of production. Land, what is exactly is land in the sense of the four factors of productions, this refers to the farm’s land base, whether it is in one field or divided into different parcels, as well as its agricultural qualities (e.g. topography, altitude, soil type, and natural water and nutrient cycles). All of these characteristics set limits on farming activities (e.g. number and size of livestock) that can take place on the farm. They also affect whether production can be intensive (when there is little land available) or extensive. Besides the land itself, the flow and retention of water and nutrients on the land is fundamentally important to its productivity, also to mark it down to show the best they can get from the land. Labor, what is labor, in the terms of economics, when it comes toShow MoreRelatedEducation Is Learning What You Didn t So Know1095 Words   |  5 Pagesperson, regardless of age, gender, ethnicity or any other characteristic, would get an education at some point in their lives, especially children. It is especially important to children as it is a primary socialisation is education at home which is very essential for a child’s educational growth, parents must provide this form of socialisation to their child. 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