explain the factors of production
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Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital, and entrepreneurship.
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Answer:
Factors of production.
Explanation:
It is a resources or inputs or what is used in the production process to produce output that is finished goods and services . The utilized amount of the various inputs determine the quantity of output according to the relationship .
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