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How can economies grow when one or more of the factors such as labor capital natural resources or entrepreneurship is missing?
An economy can grow even if it's missing an important factor. For example, a country with no Natural Resources could still rely on skilled workers and technology.
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What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
What is land and natural resources labor capital and entrepreneurship?
Factors of Production
The resources that contribute to the creation of wealth are known as?
Factors of Production 1. Land 2. Labor 3. Capital 4. Entrepreneurship 5. Knowledge
How the factors of production have change throughout the four eras of business?
The four eras of business are natural resources, capital, personal resources, and entrepreneurship. The factors of production have changed through these eras by what drives the business will change.
Land labor capital and Entrepreneurship are what?
Land, labor, capital, and entrepreneurship are the four fundamental factors of production in economics. Land refers to natural resources used in the creation of goods and services, labor encompasses the human effort and skills applied in production, capital includes the tools and machinery used, and entrepreneurship is the ability to innovate and organize these resources effectively to create value. Together, they contribute to the production process and the overall economy.
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
What is land and natural resources labor capital and entrepreneurship?
Factors of Production
What are the four factors of production in making steel?
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
What are four factors of production?
Labour Land Capital Entrepreneurship
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
What are the factors of producion?
The three main ones are land, labor and capital. Some people consider entrepreneurship and natural resources.
How the factors of production changed throughout the four eras of business?
Discuss how the factors of production (natural resources, capital, human resources and entrepreneurship) have changed throughout the four eras of business.
What are the factors of production that influence the economies of the US Great Britain and China?
The Factors of Production are Land, Labor, Capital(Wealth), and Natural Resources
The resources that contribute to the creation of wealth are known as?
Factors of Production 1. Land 2. Labor 3. Capital 4. Entrepreneurship 5. Knowledge
How the factors of production have change throughout the four eras of business?
The four eras of business are natural resources, capital, personal resources, and entrepreneurship. The factors of production have changed through these eras by what drives the business will change.
4 factors of production?
capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources
Four basic factors of production?
Land, labor, capital, and entrepreneurship.
