Econ - Factors of Production
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Last updated 3:26 AM on 9/3/25
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4 Terms
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Factors of Production
inputs, productive resources, building blocks of economy
2
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Land
natural resources, raw materials, used for production, income = rent
3
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Labor
effort people contribute, jobs, income = wages
4
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Capital (Physical)
machinery, tools, and buildings used to produce goods and services, income = interest
Note 
Flashcards (106)