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land- rent
labour- wages
capital- interests
organisation- profit
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What are factor rewards?
A factor production is a productive resource. The four types are land, labor, capital and enterprise. Rewards for land are rent, for capital is interest, for labor is wages and enterprise is profit.
When determining the rewards of factors of production?
When determining the rewards of factors of production, economists consider the contributions each factor makes to the production process. Land typically earns rent, labor receives wages, capital generates interest, and entrepreneurship yields profit. These rewards are influenced by supply and demand dynamics, productivity levels, and the competitive environment in the market. Ultimately, efficient allocation and utilization of these factors maximize overall economic output and growth.
What do economists consider factor of production?
enumirate the different factor of production?
What is factor price?
the cost of factor of production
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.
What are the financial rewards for each factor of production?
The Financial Reward is called Profit
What are factor rewards?
A factor production is a productive resource. The four types are land, labor, capital and enterprise. Rewards for land are rent, for capital is interest, for labor is wages and enterprise is profit.
When determining the rewards of factors of production?
When determining the rewards of factors of production, economists consider the contributions each factor makes to the production process. Land typically earns rent, labor receives wages, capital generates interest, and entrepreneurship yields profit. These rewards are influenced by supply and demand dynamics, productivity levels, and the competitive environment in the market. Ultimately, efficient allocation and utilization of these factors maximize overall economic output and growth.
What do economists consider factor of production?
enumirate the different factor of production?
Factors of production and its rewards?
land labor capital entrepreneur
What was the Production Budget for Chill Factor?
The Production Budget for Chill Factor was $34,000,000.
What is factor price?
the cost of factor of production
What factor influence a region photosynthetic productivity?
The main factor influencing production is consumer demand.
Why is money a factor of production?
money acts as a factor of production. it is because the other factors of production are indirectly dependent on money. more the money paid to any factor of production more it will work. hence money encourages other factors of production to work more.
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.
What is the best factor of production?
The best factor of production is money - since it can buy anything - including human resources. By Dr.R.Senapathi.
Why is labor a unique factor of production?
Labour is a unique factor of production due to that they play an important role and labour is the important factor on the base of it company performance depends.
