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Generally, economic resource (reward):
Land (rent);
Labour (wages);
Capital (interest);
Entrepreneurship (profit).
Combined with management and economic risk taking and specific needs of the market give output.
Wiki User
∙ 11y ago
Wiki User
∙ 8y ago
Labor.
money
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What do economists consider as basic resources or factors of production?
The most important resources or factors of production in economics (with their respective factor rewards in parentheses) are: Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). These factors, combined with management and economic risk taking, combine with other factors (specific to the industry) to produce output.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
What are economic resources including natural resources and capital resources?
factors of productions
What is the meaning of economic factors?
Economic factors are the resources that can influence a person on his/her every day life.
Economic resources are also known as?
Factors of production.
What do economists consider as basic resources or factors of production?
The most important resources or factors of production in economics (with their respective factor rewards in parentheses) are: Land (rent); Labour (wages); Capital (interest); Entrepreneurship (profit). These factors, combined with management and economic risk taking, combine with other factors (specific to the industry) to produce output.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
What are economic resources including natural resources and capital resources?
factors of productions
What is the meaning of economic factors?
Economic factors are the resources that can influence a person on his/her every day life.
Economic resources are also known as?
Factors of production.
Economists say all resources are scarce because?
Four factors are needed to produce wealth. 1) Natural Resources. 2) Labor. 3) Management. 4) Capital. From my observations, there is never a lack of management, but often a surplus of poor management, so economists are probably referring to the other three resources.
What are the economic factors to consider in establishing pineapple orchard?
factors considered in establishing pineaple orchard.
Factors to consider in planning a balanced diet?
yo wats up!! ... there are 3 types of factors...physiological factors, economic factors, social factors....
Why is productivity important to economists?
To satisfy the whole Economy's needs and wants with the use of scarce resources, and because Productivity applies to all factors of production.
When analyzing people CA soldiers consider which of the factors?
historical, cultural, ethnic, political, economic and humanitarian factors
Do economic resources include both production and the factors of production?
Yes, the means of production, and the system that supports it, are all resources.
What factors affect the location of different types of economic activities?
The location of natural Resources and energy will affect the various types of economic activities that come with access to said resources.
