What are the factors of production quizlet?
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What are the 5 factors of production?What are Factors of Production?. Land as a Factor of Production. ... . Labor as a Factor of Production. ... . Capital as a Factor of Production. ... . Entrepreneurship as a Factor of Production. ... . More Resources.. What are factors of production?Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
What are the 4 factors of production?Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land refers to natural resources, labor refers to work effort, and capital is anything made that is used to make something else.
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