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What are factors of production?
A
Factors of production are finished goods firms sell to generate profit in markets.
B
Factors of production are unlimited resources households use to consume goods and services.
C
Factors of production are financial rewards firms pay to consumers for buying goods and services.
D
Factors of production are scarce inputs firms combine to produce goods and services.
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1.3.1 nature and definition of factors of production: land, labour, capital and enterprise Flashcards
23 flashcards on CIE Intl A Level Economics 1.3.1 nature and definition of factors of production: land, labour, capital and enterprise: the key terms and definitions you need to recall.