1.2 Factors of production

1.2 Factors of production 

Syllabus Objectives

Topic:

  • 1.2.1 definitions of the factors of production and their rewards
  • 1.2.2 mobility of the factors of production
  • 1.2.3 quantity and quality of the factors of production

Guidance

  • Definitions and examples of land, labour, capital and enterprise
  • Examples of the nature of each factor of production
  • The influences on the mobility of the various factors
  • The causes of changes in the quantity and quality of the various factors

Revision Notes

Note:

 

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