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0455 IGCSE ECONOMICS
PAPER-2-TOPIC-1-BASIC ECONOMIC PROBLEM-TOPIC WISE PAST PAPERS / PAPER-2-FACTORS OF PRODUCTION
- 1.2-Factors-of-production-Set-1-2-qp-ms.pdf
- 1.2-Factors-of-production-Set-3-4-qp-ms.pdf
- 1.2-Factors-of-production-Set-5-6-qp-ms.pdf
- 1.2-Factors-of-production-Set-7-8-qp-ms.pdf
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Note:
IGCSE Economics Topic Questions on Factors of production Paper 2
- The four factors of production are: land, labour, capital and enterprise
- Land: Land refers to all the natural resources
- Labour: Labour refers to all the physical and the mental efforts of workers. For example, a teacher
- Capital: Capital refers to all the man-made goods used in the production for example: Machinery
- Enterprise: Enterprise refers to the risk bearing and the decision-making function. For example, An entrepreneur
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