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Economics > Factors of production > Flashcards

Factors of production Flashcards

1
Q

Four factors

A

land,labour,capital entrepreneurship

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2
Q

Production

A

conversion of economic resources into goods or services

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3
Q
A
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4
Q

Productivity

A

measures of output per unit of imput

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5
Q

Factors

A

Land ,Rent
Labour,Salaries,wages
Capital earns interest
Entrepreneurship earns

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Economics (9 decks)

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