There arent only 2 payments of production and it depends on which factor of production you're talking about. For Labour - the payment to the factor is Wages, For Capital - Interest For land - Rent Entrepreneurship - Profits These payments to the factos of production are provided by the firms. M x
Three factors of production: Labor, Capital, and Land Two payment types: Resource Markets and Product Markets
it
The factors of production are:1- Land2- Capital3- Labour4- EnterpriseThe first two are Non-human Factors while Labour and Enterprise are two human factors.
Dier
Economies of scale are factors which cause the average cost of production to decrease as the volume of its output is increased. It has two types: the internal and external factors.
The three factors of production are capital, labor, and land. Two types of payments are from firms and households. These payments go to the goods and services markets.
Three factors of production: Labor, Capital, and Land Two payment types: Resource Markets and Product Markets
it
The factors of production are:1- Land2- Capital3- Labour4- EnterpriseThe first two are Non-human Factors while Labour and Enterprise are two human factors.
Dier
Meat and wool production
Economies of scale are factors which cause the average cost of production to decrease as the volume of its output is increased. It has two types: the internal and external factors.
False
computer and cellphone
The two factors for a corporation to survive are Factors of Production and Market Acceptance. Hope this helps Mrs. Morgans economics class!
Resource and product markets.
the definition of a factor is two multiples multiplied together to get a product