0
Who possesses the factors of production in Russia and how are the resources allocated?
Wiki User
∙ 9y ago
The companies.
Imogene Stehr
Wiki User
∙ 10y agoThe companies.
Add your answer:
Earn +20 pts
Who possesses the factors of production?
the entrepreneur possesses all other factors of production because he performs managerial functions.which include risk bearing,employment of labour,he provides the necessary capital needed for production.
When is the allocation of resources in an economy considered to be inefficient?
when total resources in an economy is not equally allocated among four factors of production i.e land, labor, capital and organization then allocation of resources in an economy considered to be inefficient.
The factors of production are?
There are five factors of production these are land, labour, capital, entrepeneur and information resources.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
Do economic resources include both production and the factors of production?
Yes, the means of production, and the system that supports it, are all resources.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
What are the four factors of production in making steel?
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
Economic resources are also known as?
Factors of production.
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
In the circular flow model economic resources is both production and the factors of production?
truetrue
What are the resources employed to produce goods and services?
Factors of production
Natural capital and human resources are called the factors of what?
production
