A-Level Economics: Economic Resources
- Created by: SophieT31
- Created on: 25-10-18 18:51
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Economic Resources
Factors of Production
- These can be shortened to 'CELL' to remember
- Capital: goods used in the supply of other products e.g machines, computers
- Enterprise: Entrpreneurs organise factors of production and take risks e.g CEOs
- Land: Natural resources avaliable for production e.g oil, coal, fields
- Labour: The human input into the production process e.g factory workers, product designers
- Factor rewards describe the incomes that flow to each of the…
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