Good morning everyone explain the factors of production in an economy.
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good. morning
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Factors of Production - The Economic Lowdown Podcast Series. Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
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Factors of Production - The Economic Lowdown Podcast Series. Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
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