Study guide
Factors of Production
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This document explains the Factors of production and explains the four categories of these productive resources. These notes also give examples on each type of productive resource.
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Add to cartSome examples from this set of practice questions
1.
What are the 4 categories of the factors of production?
Answer: Land Labor Capital Entrepreneurship
2.
What is Capital
Answer: equipment needed to create product
3.
what are the two types of Land resources
Answer: renewable and non-renewable
4.
What is Labor
Answer: Time and effort people devote to making goods/services
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