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Notes ECO 405 MR. NEISSER BRENDA HAWKINS 1 .Labor resources -The physical and mental efforts of an economy’s people that are available  to produce goods and services. 2. Capital resources -all nonhuman ingredients of production. Capital resources can be further  divided into natural and man-made categories. 3. GDP-(gross domestic product)-  The market value of all final goods and services produced within an economy during a specific time period.GDP ignores the issue of weather ownership of the resources used for the production is domestic or foreign. 3 . Premier Zhou Enlai - was the  first Premier of the People's Republic of China . 4. Price ceiling - Maximum allowable price for good or service, usually set by a government. 5.  price floor - A minimum allowable price for a good and service, typically set by a  governmental unit or by a group of sellers. 6
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This note was uploaded on 06/18/2011 for the course BUS 499 taught by Professor Campbell during the Spring '11 term at Strayer.

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