ECONOMICS
BARRIERS TO TRADE
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[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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courses
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capital goods
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conclusion
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cancer
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Detailed explanation-1: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land.
Detailed explanation-2: -Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy. How these factors are combined determines the success or failure of the outcome.
Detailed explanation-3: -Factors of production are essential to any economy, as they are the building blocks for all goods and services.
Detailed explanation-4: -Factors of production is an economic term that describes the inputs used in the production of goods or services to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production are land, labor, capital, and entrepreneurship.
Detailed explanation-5: -Accumulation of capital stock. Increases in labor inputs, such as workers or hours worked. Technological advancement. 01-Jun-2015