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- machines trieuses suppriment des milliers d'emplois à la Poste —> substitution du capital au travail - scanner permet au médecin de poser un diagnostic plus sur —> complémentaire au travail qualifié
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- Gives certain uses the highest priority for allocation during shortage regardless of the marginal net benefit.
- - land (natural resources not created by humans)- labor (the work people do to provide goods and services)- capital (the buildings, tools, equipment, money, machinery, and factories used in the production of goods and services)- entrepreneurship (a person who is a risk-taker in search of profits who does something new with existing resources)
- the "normal" unemployment rate due to frictional and structural conditions in labor markets-it is the unemployment rate that occurs when the economy is operating at a sustainable rate of output-the current natural rate of unemployment in the US is thought to be approximately 5%