Match each Factor of Production with its example.LandLaborCapitalEntrepreneurship[II]CornfieldCollege graduateFreewaySmall business owner Place the economic systems in order from the most restrictive (at the top) to the least restrictive (at the bottom).Remember, restrictions can be things like government control or anything that might prevent YOU from economic trade.= Command= Free Enterprise= Traditional= Mixed

Answered: Match each Factor of Production with…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Match each Factor of Production with its example.
Land
Labor
Capital
Entrepreneurship
[II]
Cornfield
College graduate
Freeway
Small business owner

Place the economic systems in order from the most restrictive (at the top) to the least restrictive (at the bottom).
Remember, restrictions can be things like government control or anything that might prevent YOU from economic trade.
= Command
= Free Enterprise
= Traditional
= Mixed

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There are two principal kinds of elements of production: primary and secondary variables. Business analysts have laid out the land, work, capital, and business as the four essential variables of creation. A few economic experts have distinguished capital money or money-related capital, as the fifth variable of production, yet understanding capital money as a primary factor isn't completely exact.

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