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Natural resources
________ have historically played a considerably larger role in determining production.
forms of physical capital
All ________, that is, products that are used to produce other goods, are considered investment assets.
private enterprises
Individuals and ________ spend the majority of their money on investments, which is how an economy's physical capital is formed.
English economist Thomas Malthus
The ________ used the fixed quantity of land in the globe as the foundation of a gloomy forecast about future productivity in his renowned book An Essay on the Principle of Population, published in 1798.
Long term economic growth
________ has been feasible in successful economies like the United States because of good laws, institutions that enforce those laws, and a stable political system that preserves those institutions.
Excessive government interference
________ can stifle economic progress even when governments are not corrupt.
production possibilities
The ________ curve depicts the various investment and consumer products combinations that Kyland can produce.
Note
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