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Factors of Production | Economics Explained 8 месяцев назад


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Factors of Production | Economics Explained

In economics, factors of production are the resources that people use to produce goods and services; they are the building blocks of the economy. Economists divide factors of production into four categories: land, labor, capital and entrepreneurship. This video explains the four factors of production, describes the payment each earns, and includes a short video quiz—game-show style. Teacher Resources: https://www.stlouisfed.org/education/... Factors of Production - The Economic Lowdown Podcast Series: https://www.stlouisfed.org/education/... 00:00 - Factors of Production 00:27 - Land 01:02 - Labor 01:43 - Capital 02:23 - Entrepreneurship Follow us: X/Twitter:   / stlouisfed   Threads: https://www.threads.net/@UCEz-5n2ShUn... Instagram:   / stlouisfed   Facebook:   / stlfed   #factorsofproduction #economy #economics #labor #demand

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