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AP Microeconomics > Factors > Flashcards

Factors Flashcards

1
Q

Factor

A

input to a final product

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2
Q

Land

A

natural resources used to produce the product

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3
Q

Labor

A

any effort used to produce the product (they get paid)

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4
Q

Physical capital

A

any human made resource that is used to create other goods and services (machinery)

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5
Q

Human capital

A

(expertise) Any knowledge gained by a worker through education and experience

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AP Microeconomics (6 decks)

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