Factors of Production
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9 Terms
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What does CELL mean
Capital, Enterprise, Land, Labour.
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Capital
The money and machinery or equipment used to produce goods and services
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Capital’s Reward
The reward is Interest
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Enterprise
The entrepreneur with the idea, The person who combines the other factors
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Enterprise’s Reward
The reward is profit
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Land
The natural resource used to make goods and services
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Land’s Reward
The reward for land is rent
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Labour
The people (employees/staff/Human Resources) that work in the business
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labour
The reward is salaries/wages