Demand resources

July 31, 2008

Money income determination- Resource prices are a major factor in determining the income of households.
Cost minimization- To the firm, resource prices are costs.

Resource allocation- In a dynamic economy, where tech and product demand often change, the efficient allocation of resources over time calls for the continuing shift of resrouces from one use to another.

Policy issues- policies that surround the resource market. To what extend should government redistribute income through taxes and transfers?

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