lectur7-page41

lectur7-page41 - When you own a piece of land and desire to...

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41 41 Rationing Process What to Produce? Consumers Producers Distribution Financial Physical Organize Prodtn. Process Functions of Any Economic System Resource flows from consumers to producer Resource flows from consumers to producer Before a producer can start to produce a good or service, we know that the producer must acquire resources. In capitalism, the producer obtains those resources form consumers who privately own the resources (land, capital, labor, and management). These resources flow through a physical distribution system.
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Unformatted text preview: When you own a piece of land and desire to sell it, where would you typically look for help? Yes, a real estate agency. The real estate agency will help facilitate matching buyers and sellers and assist in the transfer of land from one party to the next. What is an employment agency? What are the “want ads” in a newspaper? What is the CALS Career Planning and Placement Center? These are all labor distribution mechanisms. What is a John Deere machinery and equipment dealer? A capital distribution center....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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