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Factors of Economic Output

  • Writer: Gerd Weyer
    Gerd Weyer
  • Jul 28, 2020
  • 1 min read

All economic output has only two inputs, labor, and natural resources. People spend time locating, extracting, and transforming natural resources into goods and services. The opportunity to pursue happiness increases when it takes less time to locate, extract, and transform natural resources into goods and services. Follow for additional posts.

 
 
 

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