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non -wage factors are factor that are factor without payments

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Define and explain the four factors of production landlaborphysical capitalhuman capital?

Define factor of production land ,labour,physical capital ,human capital?


Define the marginal production theory?

if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity


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.


Define the role of the entrepreneur?

Define the role of the entrepreneur?

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Define and explain the four factors of production landlaborphysical capitalhuman capital?

Define factor of production land ,labour,physical capital ,human capital?


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Define greatest common factor?

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Define the marginal production theory?

if the situation of perfect competition prevails in the economy then reward to each factor will equal to its productivity