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What six factors are found in every type of economy?


subject (US Government)

User Savoo
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2 Answers

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Answer and Explanation.

i)Labor costs- The cost of labor is the total amount of all wages paid to employees .

ii) interest rates- This is the amount charged as percentage principal by the lender to the borrower where the borrower pays back with extra amount as in their agreement. Ii is noted on annual basis. It is known as annual percentage rate.

iii)Government policy- Government policies are the plans and the actions carried out by the government. They are intended to influence and determine the development matters.

iv)Taxes- This is mandatory financial charge by the government to the individual. It is charged according to the individual or company's or organisation income.

v)Management- This is where things are controlled in a good manner and there is proper use of resources in order to help an economy to improve and grow.

vi)Opportunity cost-which is the benefit profit or value of something that must be given up to achieve the set goals.


User Kggoh
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The factors are Natural Resources, Physical Capital or Infrastructure, Population or Labor, Human Capital, Technology and Law. In the United States, the government releases an annualized GDP estimate which is relevant to the economic growth and the factors are found in every type of economy.

User Dizy
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