factors of production Flashcards by Lily Rosenthal

Q

list all factors of production

A

land, labour, enterprise, capital

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Q

what is land in fop

A

natural resources available for production

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Q

what is labour in fop

A

human input into the production process

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Q

what is enterprise in fop

A

entrepreneurs organise the fop and take risks

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Q

what is capital in fop

A

goods (tech) used in the supply of other products

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