what do you mean by the factor of production. Give three example also
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The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
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In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. ... There are three basic resources or factors of production: land, labour and capitasl
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