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How does technology differ from capital as a factor of production?
Wiki User
∙ 6y ago
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.
Sebastian Martinez
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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 are the dimensions of an Advanced Technology Extended Motherboard?
The full ATX motherboard size is 12 in long by x 9.6 in wide (305 mm x 244 mm). Since it came out in 1995, the ATX computer form factor has replaced the old AT form in virtually all computers. ATX means Advanced Technology Extended.
What is the form factor of a ATX power supply?
ATX is the form factor.
Is capital a factor of production?
Yes.
What factor of production is the most mobile?
Capital
An office building is what factor of production?
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
A factory machine is an example of which factor of production?
capital
An office building is an example of which factor of production?
capital
Tow truck is an example of what factor of production?
capital
A factory machine is an example of what 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.
