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special science which studies the relationship between ends and scarce means which have alternative uses

A

This is the science of choice . the resources we have are limited So we are always forced to make a choice.  While our needs (things essential to survival) and wants (something we desire) are unlimited.

  The volume of production depends on the factors of production and their productivity There are four factors Land  Labor  Capital  Entrepreneur  .

           Gift of Nature Primary factor of production Passive factor of production Heterogeneous factor Permanent factor Diminishing returns Lacks Geographic mobility Derived Demand A fixed supply Can be agricultural or non agricultural Rent as a reward .

           Living factors Perishable factor Heterogenous factor Derived demand Relatively inelastic supply Inseparable Active factor Relatively immobile Can be skilled or unskilled Interdependence Wages or salaries as reward .

        Man made factor Passive factor Mobile factor Depreciative factor Durability factor Elastic supply Lacks permanencey Increases productivity .