According to Your Text, There Are Six Factors That Can

question 49

Essay

According to your text, there are six factors that can cause people to engage in conflict. List them.

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of all inputs, indicating a return beyond the norm expected in the market or industry.

Industry

A sector of the economy characterized by a specific type of activity or product, such as manufacturing, technology, or services.

Firms

Business organizations that produce goods or provide services with the aim of making a profit.

Resources

Assets, materials, and inputs needed for the production of goods and services, including natural, human, and capital resources.