CV 2014 July 18

3 factors of production (inputs into production processes) - land - labor - capital outputs: goods and services labor and capital markets - how wages are determined - how to evaluate the profitability of investments (e.g. new plant equipment) land economics - how rents are set in real estate markets - net present value - rate of return his pledge the time you put into the study of microeconomics will yield a very high return in both your personal and professional life