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enumirate the different factor of production?
The Production Budget for Chill Factor was $34,000,000.
There are several factors that can improve the economy. The biggest factor that can improve and economy is a low unemployment factor. When unemployment is falling the economy usually improves.
the cost of factor of production
The main factor influencing production is consumer demand.
Aggregate Demand is the total amount of Demand in the Economy at a given time. It is an important macroeconomic factor because it helps determine, forsee and ,when manipulated ,prevent inflation. Inflation is one of the the main macro-economic problems and is as important as unemployment.
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.
To calculate the inflation rate using the unemployment rate as a key factor, you can use the Phillips Curve. The Phillips Curve shows the relationship between inflation and unemployment. When unemployment is low, inflation tends to be higher, and vice versa. By analyzing this relationship, economists can estimate how changes in the unemployment rate may impact inflation.
That there is no work, because of the economic reasons and because of the troubles that is going on.
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.
mass production