Difference between revisions of "Factors of production"

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{{stub}}Factors of production are resources used to produce [[goods]]. Basic models of production have two input factors, [[labor]] and [[capital]]. In other contexts, additional factors such as land or entrepreneurship are considered.
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Factors of production are inputs used to produce [[goods]]. Basic models of production have two input factors, [[labor]] and [[capital]]. In other contexts, additional factors such as land or entrepreneurship are considered.
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[[Category:Economics]]
 
[[Category:Economics]]

Revision as of 00:26, April 9, 2007

Factors of production are inputs used to produce goods. Basic models of production have two input factors, labor and capital. In other contexts, additional factors such as land or entrepreneurship are considered.

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