What are the factors of resources?
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Meghna Thapar 5 years, 5 months ago
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. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. Human capital is the most important factor of production because you will need knowledge and enterprise to be able to put together land,labour and physical capital to produce an output either to use yourself or sell in the market.
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