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.
The money factor formula used to calculate the cost of borrowing money is: Money Factor Annual Interest Rate / 2400.
To determine the money factor on a lease agreement, you can ask the leasing company for the interest rate they are using and then convert it to a money factor by dividing it by 2400. The money factor represents the cost of financing the lease.
Many factor tie into production but five factors of production are: product, capabilities, volume, safety, and sales.
To determine the money factor on a lease agreement, you can ask the leasing company or dealer for the specific rate they are using. The money factor is a decimal number that represents the interest rate on the lease. The lower the money factor, the better the deal for the lessee.
To calculate the money factor in a lease agreement, you divide the annual interest rate by 2400. This will give you the money factor, which is used to determine the finance charge on the lease.
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.
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.
The best factor of production is money - since it can buy anything - including human resources. By Dr.R.Senapathi.
Money, political resources, and infrastructure are not considered economic factors of production. Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.
Money is considered to be a factor of production figuring the more a company makes the more money they will earn.
capital is a money to start a business
Factors of production = means of production I see it like this, the economy converts factor of production (non-money things) into money. And then this money is reinvested into factors of production Factors of production(non-money) is converted to money Factors of production in my definiton are: raw materials labor technology (the human brain) can also argued as a factor of production Notice I did not say capital is a factor of production, because factors of production are first converted into capital (non-money) which is then sold for money when non money things are converted into capital, their value rises.
enumirate the different factor of production?
The Production Budget for Chill Factor was $34,000,000.
the cost of factor of production
The main factor influencing production is consumer demand.
mass production