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Why is Factors of Production an appropriate name for Economic Resources?
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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.
Economic resources are also known as?
Factors of production.
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.
In the circular flow model economic resources is both production and the factors of production?
truetrue
Which factors of production are used by a landscaping service to provide economic value?
labor, capital, and natural resources
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.
Economic resources are also known as?
Factors of production.
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.
In the circular flow model economic resources is both production and the factors of production?
truetrue
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
Which factors of production are used by a landscaping service to provide economic?
labor, capital, and Natural Resources
Which factors of production are used by a landscaping service to provide economic value?
labor, capital, and natural resources
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 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.
The factors of production are?
There are five factors of production these are land, labour, capital, entrepeneur and information resources.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
