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Factors of Production

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Q: What is land and natural resources labor capital and entrepreneurship?
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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 are the factors of producion?

The three main ones are land, labor and capital. Some people consider entrepreneurship and natural resources.


What do you call the four resources needed to produce goods and services?

land, labor, capital and entrepreneurship


What are the connections among natural resources entrepreneurship labor and capital in an industrial economy?

Damn...hella lazy sophomore. >.


What following are necessary for production to take place?

Factors of production-land, labor, capital, and entrepreneurship are necessary for production to take place. Land refers to natural resources, labor represents the human input, capital includes physical assets like machinery, and entrepreneurship involves organizing and combining the other factors to create goods and services.


4 factors of production?

capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources


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.


What are four factors of production?

Labour Land Capital Entrepreneurship


What Distinguish between the resource market and the product market in the circular flow model?

businesses purchase what they use to produce goods and services. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households.


What factors of production for this country?

natural resources labor capital entreprenuership


Factors of production history?

Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.


What is the five factors of production?

the factor of production are:land, labour, capital, and enterpreneurship The above is too specific: The Four Factors of production are: Natural Resources (Land and all other resources ie. water, air etc.) Capital (Same, revenue and assets) Human Resources (Labor, in addition to any other human provided service, not limited to labor alone) Entrepreneurship (Same, the Ability, Freedom and Guarantee that business's can be established and operate with out too many restrictions)