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The Financial Reward is called Profit
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What are the financial rewards for each factor of production?
The Financial Reward is called Profit
Define the marginal production theory?
if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity
What is the difference between labour and entrepreneurship as factors of production?
Labour is human physical and mental effort directed in a production process, and the reward for it is wage or salary. Entrepreneur is a self-driven factor employing all aspects of making a given product. Profit is the reward for that endeavor.
How each factors of production used to produce education?
Which factor used by produce education
What are the three components of the economic cycle and how they affect each other?
Sectors of production and goods factor
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.
What is factor price?
the cost of factor of production
What the law of segregation?
the principle, originated by Gregor Mendel, stating that during the production of gametes the two copies (alleles) of each hereditary factor segregate so that offspring acquire one factor from each parent.
What factor influence a region photosynthetic productivity?
The main factor influencing production is consumer demand.
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.
