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factors of production

created by Noung

(thing) by Noung (4.5 d) (print)   ?   (I like it!) Sun Feb 25 2001 at 12:18:53

The factors of production are the resources which allow the production of goods and servives to take place. They are the inputs for the production process. They are divided into four types:

Different countries use these resources to a differing level depending on what is available - in countries such as China where labour is plentiful, production is labour-intensive. In countries where capital is plentiful, production is capital-intensive.


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chaos

Fallacy of making work entrepreneurship capital labour
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production Minerals E2 node tracker economics
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