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What is considered the passive factor in production?
land
Is sunlight considered a factor of production?
An economist considers the Sun a factor of production or a variable of land. The sun is considered as a Oil and mineral deposits, or water to an eonomist.
Why are entrepreneurs considered a factor of production?
Because they are enterprising!
What type of resource is not an economic factor of production?
Money, political resources, and infrastructure are not considered economic factors of production. Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.
Discuss Factor pricing under perfect competition?
factor pricing means the payments made to various factors of production .for example- land,labour ,capital,entrepreneur gets rent,wages,interest and profit respectively for their contribution in production. under perfect competition supply of labour is perfectly elastic.(i.e. supply curve is drawn parallel to x-axis.). to understand factor pricing ,one needs to get acquainted with marginal productivity theory of production first which states that factors are paid the value of their marginal physical product.price of a factor is determined by its total demand and supply schedules.
What is considered the passive factor production?
land
What is considered the passive factor in production?
land
Is sunlight considered a factor of production?
An economist considers the Sun a factor of production or a variable of land. The sun is considered as a Oil and mineral deposits, or water to an eonomist.
Why are entrepreneurs considered a factor of production?
Because they are enterprising!
What type of resource is not an economic factor of production?
Money, political resources, and infrastructure are not considered economic factors of production. Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.
Discuss Factor pricing under perfect competition?
factor pricing means the payments made to various factors of production .for example- land,labour ,capital,entrepreneur gets rent,wages,interest and profit respectively for their contribution in production. under perfect competition supply of labour is perfectly elastic.(i.e. supply curve is drawn parallel to x-axis.). to understand factor pricing ,one needs to get acquainted with marginal productivity theory of production first which states that factors are paid the value of their marginal physical product.price of a factor is determined by its total demand and supply schedules.
What is the other name of plant factor in load forecasting?
Load Factor
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.
Why money is not considered as factor as 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.
A company's fleet of trucks represent which kind of factor of production?
It is considered capital.
Why is labor considered an active factor of production?
it can be increased or decreased based upon demand
