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A society decides that it needs to produce more corn to feed the growing population. What must it do before it begins the production process?

analyze existing resources, such as water availability
determine how people will receive the surplus crops
study the profitability of increasing corn production
understand who is in a position of authority to produce more

Respuesta :

Lanuel

Before this society begins the production process, it must: A. analyze existing resources, such as water availability.

Types of economy.

Generally, there are five (5) main types of economy and these include the following;

  1. Mixed economy.
  2. Command economy.
  3. Traditional economy.
  4. Pure capitalism economy.
  5. Underground economy (black market).

What are the factors of production?

Factors of production can be defined as the fundamental building blocks of resources that are used by individuals (entrepreneurs) or business firms for the manufacturing (production) of finished goods and services, in order to meet the unending demands, needs and requirements of their customers (consumers).

The four factors of production.

In Economics, there are four (4) factors of production and these include the following:

  • Land
  • Capital resources
  • Entrepreneurship
  • Labor

In this scenario, we can reasonably infer and logically deduce that before this society begins the production process, it must analyze existing resources, such as land and water availability.

Read more on factors of production here: brainly.com/question/15409083

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