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In South Africa, the factors of production—land, labor, capital, and entrepreneurship—are possessed by a mix of private individuals, corporations, and the government. The private sector, including both local and foreign businesses, plays a significant role in owning land and capital, while the government also owns substantial resources and enterprises. Labor is provided by the workforce, which comprises a diverse population with varying skills and qualifications. Overall, the economy is characterized by a combination of private ownership and public enterprises, influenced by historical and socio-economic factors.
What else can I help you with?
Who owns the factors of production in a traditional economy?
The question is nonsensical. The factors of production require the existence of a consistent production, but this does not exist in a traditional economic system. All things that are produced are produced using common materials that are available to all and items are only created when they are necessary - not when a factory owner chooses to produce.
Who possesses the factors of production in South Africa?
Both the government and private owners makes economic decisions because the government has control over certain important industries, such as Eskom, while private owners control other important industries.
Economic growth in South Africa?
economic growth is the annual rate of increase in total production or income in the economy
Which African country produces the most coal?
South Africa is the largest producer of coal in Africa. The country's coal industry has played a significant role in its economy and energy production.
Is South Africa a market or government economy?
South Africa has a market economy.
What was the cost of bread in south Africa in 1963?
In 1963, the cost of a loaf of bread in South Africa was approximately 20 cents. This price reflected the economic conditions of the time and was influenced by factors such as inflation and agricultural production. Given the subsequent changes in the economy over the decades, this cost is significantly lower than today's prices.
What was the Production Budget for Out of Africa?
The Production Budget for Out of Africa was $31,000,000.
What is a major problem with Africa having an export economy?
It makes the economy of Africa less stable.
Who has the larger economy South Africa or Zambia?
South Africa has a far larger economy.
Which countries has the largest economy South Africa or Zambia?
South Africa has a far larger economy
What is major problem with Africa having an export economy?
It makes the economy of Africa less stable.
Which economy is strong in North Africa?
Egyptian economy and Libyan economy.
