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23 February, 20:12

Factors of production definition

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  1. 23 February, 20:47
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    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.
  2. 23 February, 22:52
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    To put it more simply, it is basically what goes into producing a certain good.
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