Question

Raw materials used in the process of production is factor input or non - factor input and why ?

Answer 1

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Raw materials are materials or substances used in the primary production or manufacturing of goods.

Traders buy and sell raw materials in what is called the factor market because raw materials are factors of production as are labor and capital.

Answer 2

Explanation:

Raw materials are materials or substances used in the primary production or manufacturing of goods.

Traders buy and sell raw materials in what is called the factor market because raw materials are factors of production as are labor and capital.

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