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Factors of Production Explained with Examples
9:02
YouTubeFST Study
Factors of Production Explained with Examples
If you want to produce any goods or services, you will need at least one of these four factors. And they are, land labor, capital, and entrepreneurship. Patreon Link: https://www.patreon.com/user?u=36571443 It used to be only land, labor and capital, then later on, entrepreneurship was added. The fourth factor is also sometimes called as ...
25.3K viewsFeb 8, 2021
Factors of Production Examples
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consider two countries home and foreign that produce goods 1 with labor and capital and 2 with labor and land according to some constant returns to scale production functions initially both 69709
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