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Factors of production according to classic economic theory include:
- Land and Natural Resources
- Labor
- Capital stock
These by themselves do not harm Mexico. However, several social issues could arise from their acquisition:
For example, several companies require land and natural resources to begin production. Often, land acquisition or extraction of natural resources imply an environmental harm.
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What do economists consider factor of production?
enumirate the different factor of production?
What was the Production Budget for Chill Factor?
The Production Budget for Chill Factor was $34,000,000.
Why may labor as a mobile factor of production be unwilling to move?
why the labour as a mobile factor of production may be unwilling to move
What is factor price?
the cost of factor of production
What has been the result of the short supply in factor of production in Mexico?
Enforced poverty, as Mexico has been traditionally held as a resource-rich country, without the means (capital, means of production) to extract those resources and generate wealth.This process in changing however; starting since the 1930's, Mexico is having an ongoing industrialization process -- nowadays, Mexico is considered an Emerging Market (EM).
What factor influence a region photosynthetic productivity?
The main factor influencing production is consumer demand.
Why does the GDP exclude foreign production by a General Motors plant in Mexico?
Because it was produced in Mexico; therefore such production is counted for Mexico and not for the United States.
Why is money a factor of production?
money acts as a factor of production. it is because the other factors of production are indirectly dependent on money. more the money paid to any factor of production more it will work. hence money encourages other factors of production to work more.
Why money is not consider as a factor of a production?
Money is not a factor of production in economics because it is used as a way to facilitate trade, but does not actually produce goods or services on its own. Money is not considered a factor of production because it cannot be made into a good or service. It can only purchase them. Money facilitates trade, but it is not in itself a productive resource. A factor of production is an input to the production process, such as capital. Money is not capital as economists define capital, because it is not a productive resource.
What is the best factor of production?
The best factor of production is money - since it can buy anything - including human resources. By Dr.R.Senapathi.
When did disconnection from food production became a significant factor?
mass production
Why is labor a unique factor of production?
Labour is a unique factor of production due to that they play an important role and labour is the important factor on the base of it company performance depends.
