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Discuss the different factors of production with emphasis on their interdependence in the creation of wealth?
discuss factors of production
Which of the four factors of production must be prioritized?
The four factors of production (land, labor, capital and entrepreneur) must all present if you wish to improve the economic level of production.
What are the 4 factors of production?
Land, Labour, Capital, and Enterprise
What is an output versus inputs in economics?
Inputs are factors of production (land, labour, capital and entreprenuership) and output is the final good or service produced using the factors of production through a production process. Adding on, if per say you have 40 acres of land, you want to build on the acres, the input into that will take time and so will the output for the result. Another is say your are doing research where the person your doing research for has like 20,000 articles to input into .pdf format, this will take time and money also.
How did Charles Fourier try to the ills of industrialization?
One way Charles Fourier tried to correct the ills of industrialization was by advocating for socialism. He wanted the factors of production to be owned by the citizens.
What are the rewards for the factors of production?
land- rent labour- wages capital- interests organisation- profit
What are the rewards of the four factors of production?
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
What are the factors of production and their respective rewards for being used in the production process?
FACTORS OF PRODUCTIONREWARDEXAMPLECapitalInterestMachinery, equipment, buildingsEntrepreneurshipProfitBusiness owner, factory ownerLandRentMineral deposits, soil, timber, water, land itselfLabourSalaries and WagesFarmworkers, miners, artisans, technicians
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 factors of production name any four factors of production.?
Factors of production
Define factors of production?
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
What are Reinforcing factors?
There or not! ex: rewards, support, encouragment,
Discuss the mobility of factors of production?
mobility of factors of production
Factors of production of photography?
what factors of production is needed for photography
How to increase or improve the factors of production?
how to improve factors of production
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.
What are the financial rewards for each factor of production?
The Financial Reward is called Profit
