What is production Factor of production

What are the factors of production quizlet?

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What are the 4 factors of production and give examples?

The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic ...

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. ... .

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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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What are the 4 factors of production and give examples?

What are the 5 factors of production?

What are factors of production?

What are the 4 factors of production?

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