0
Factors of production typically include land, labor, capital, and Natural Resources. These inputs are used directly to produce a good or service. Technology, on the other hand, is used to put these factors of production to work. ... An improvement in technology usually means that fewer and/or less costly inputs are needed.
What else can I help you with?
How the technology improved people standard of living and life expectancy?
The technology which is called total factor productivity. It measures the efficiency of all inputs to a production process.
What is a factor that limits technology design?
A constraint
What is sustainability in technology and design?
sustainability is a factor ( to be kept in mind in technology and design) measured from repetetiveness/durability of process/reliability etc.
What is the form factor of a ATX power supply?
ATX is the form factor.
What is the impact factor of IJCSIT?
having No impact factor as per ISI web of knowledge
Tow truck is an example of what factor of production?
A single example of a capital factor of production is a tow truck. The technology, machinery, equipment, and tools utilized in the production of products and services are referred to as capital. A tow truck falls under the capital category as it is a piece of equipment utilized in the towing and recovery sector.
Is capital a factor of production?
Yes.
An office building is what factor of production?
Capital
What factor of production is the most mobile?
Capital
Characteristics of capital as factor of production?
capital is a money to start a business
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.
Is a garbage truck a factor of production?
Yes, it is considered capital.
What factor of production does human capital enhance?
Labor
An office building is an example of which factor of production?
capital
A factory machine is an example of what factor of production?
CAPITAL
A factory machine is an example of which factor of production?
capital
What is a capital as a factor of production?
Capital as a factor of production entails goods that are produced through human labor in an economic system. This does not include Natural Resources or land.
