Apple™ sells 40,000 iPods™ that were produced last year, to new customers. As a result:

A. GDP will increase for this year.

B. GDP will decrease for this year.

C. the iPods™ will increase GDP for this year and count as inventory for last year.

D. the iPods™ will decrease GDP for this year and count as inventory for last year.

E. last year's GDP was increased by the inventory value of the iPods™, and this year's GDP increases by the retail value of the iPods™ less their inventory value from last year.

E. last year's GDP was increased by the inventory value of the iPods™, and this year's GDP increases by the retail value of the iPods™ less their inventory value from last year.

Explanation:

Apple™ sells 40,000 iPods™ that were produced last year, to new customers. As a result last year's GDP was increased by the inventory value of the iPods™, and this year's GDP increases by the retail value of the iPods™ less their inventory value from last year.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know