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Economic resources are resources that can be exchanged for and valued using monetary means. For example real estate, services, and Natural Resources like oil, gold and diamonds are economic resources. Non economic resources are items that cannot be measured monetarily. Some examples include the great view of a mountain range from a cabin, fresh air, rain, and sunshine.
Factors like land, labor, capital, management, technology are considered as economic resources. Factors like culture, tradition, culture, etc., are considered as non economic factors whelp in economic development.
- Loss of earnings to the unemployed.
- Lost output to the economy. Unemployment represents an inefficient use of resources and social inefficiency.
- Those who are unemployed will find it more difficult to get work in the future (this is known as the hysteresis effect) The long-term unemployed may become demotivated and leave the labour market altogether.
- Stress and Health problems of being unemployed. Unemployment is often the most stressful experience.
- Increased drug use. The Prince's Trust's 2010 Youth Index found that 11% of
unemployed young people responding to their online survey said that they had
"turned to drugs/alcohol." (TUC report)
- Increased government borrowing. Tax revenues will fall because there is less people paying income tax and VAT. Also the governmentt will have to spend more on unemployment benefits.
- Lower GDP for the economy, the economy will be below full capacity this is inefficient and will lead to lower output and incomes.
- Increase in social problems. Areas of high unemployment (especially youth unemployment) tend to have more crime and vandalism.
- The unemployed, especially the young unemployed, may be more likely to resort to crime due to low income and feelings of social depravation. The unemployed are also more likely to be victims of crime and burglary.
- Growth in inequality and relative poverty within society. According to TUC, 64% of the working age adults in families where one or more of the adults are
unemployed are poor. (costs of unemployment)
Non-material wealth is something highly coveted by a lot of people but which cannot be purchased - a close knit family, a job you enjoy, good friends, and so on.
Non-economic resources are things that cannot be measured in terms of money. Examples are the reliability of the weather, a great view from a window, or even just fresh air.
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Non economic activities and its examples?
What is the difference between economic and non economic activities.?
What is the difference between economic and noneconomic activity?
Economic activity is the activity in which we work for earning an incom. Non economic activity is the activity wich we do it for our satisfaction.
What are economic and non economic factor?
Economic factors are all the units required in the economic activity of production of goods and services with the effective and efficient utility of resources and fulfill the consumption demand in any market and national economy. Non economic factors are the social and political environment that may not directly effect the level of national income and output. Economics is the interaction of the functions of demand and supply on the market for the prudent usage of scarce resources in order to arrive at a balanced curve while non-economics factors are factors that are used as substitutes to the players in the clear field of economics in order to allow the market play without interruption by switching to substitutes when the side of the players becomes high
What are the example that economic factors linked to non-economic?
examples of non economic factors
What is the opposite of economic choice?
non-economic choice
Non economic activities and its examples?
What is the difference between economic and non economic activities.?
What is non economics resources?
having no economic importance or implication
Distinguish between monetary rewards and non monetary rewards?
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How can a person distinguish between the prejudicial and non-prejudicial use of rhetorical devices?
Answer
What is the depletion of resources?
Resource depletion is an economic term referring to the exhaustion of raw materials within a region. Resources are commonly divided between renewable resources and non-renewable resources. Resource depletion is most commonly used in reference to the farming, fishing, mining, and fossil fuels.
How do you distinguish between conductive and non-conducting materials?
By measurements of the electrical (or thermal) conductivity.
What is the definition of non-experimental research?
how to distinguish between quasi-experimental and nonexperimental research
What is the difference between linear and nonlinear demand functions?
distinguish between linear and non linear demands funcions
What is non standard commercial risk?
distinguish between a "standard" commercial risk and a "non standard" commercial risk in a fire policy
What are the Positive effects of economic growth?
infrastructure development,positive externalities and non-exhaustion of natural resources
What distinguish between polar and non polar dielectrics?
b c polar molecules are easily soluable in water thanthe non polar molecules
What is the difference between economic and noneconomic?
Economic activity is the activity in which we work for earning an incom. Non economic activity is the activity wich we do it for our satisfaction.
