Factors Of Production Flashcards by Aayush Datt | Brainscape

Q

What is a factor of production

A

A resource used in production of something else

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Q

4 factors of production

A

Capital
Entrepreneurship
Land
Labour

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Q

Examples of Capital

A

Machinery
Tools
Technology

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Q

Examples of Entrepreneurship

A

Profits

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Q

Examples of Land

A

Natural resources
Water
Wind

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Q

Examples of Labour

A

Human Resources
Quantity
Knowledge
Skills

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