STOCKS INCLUDING land, labor (the ability to work), and capital goods applied to production. Many economists today consider human capital (skills and EDUCATION) as the fourth factor of production, with entrepreneurship as a FORM of human capital. In markets, entrepreneurs combine the other factors of production, land, labor, and capital, in order to make a profit. Often these entrepreneurs are seen as innovators, developing new ways to produce and new products. In a planned economy, central planners DECIDE how land, labor, and capital should be used to provide for maximum benefit for all citizens.

"> STOCKS INCLUDING land, labor (the ability to work), and capital goods applied to production. Many economists today consider human capital (skills and EDUCATION) as the fourth factor of production, with entrepreneurship as a FORM of human capital. In markets, entrepreneurs combine the other factors of production, land, labor, and capital, in order to make a profit. Often these entrepreneurs are seen as innovators, developing new ways to produce and new products. In a planned economy, central planners DECIDE how land, labor, and capital should be used to provide for maximum benefit for all citizens.

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Enterpreneurial ability is a special kind of labour that

Economics Economics miscellaneous in Economics 4 months ago

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In economics, factors of production are the inputs to the production process. Factors of production may also refer specifically to the primary factors , which are STOCKS INCLUDING land, labor (the ability to work), and capital goods applied to production. Many economists today consider human capital (skills and EDUCATION) as the fourth factor of production, with entrepreneurship as a FORM of human capital. In markets, entrepreneurs combine the other factors of production, land, labor, and capital, in order to make a profit. Often these entrepreneurs are seen as innovators, developing new ways to produce and new products. In a planned economy, central planners DECIDE how land, labor, and capital should be used to provide for maximum benefit for all citizens.

Posted on 28 Jun 2025, this text provides information on Economics related to Economics miscellaneous in Economics. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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