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What is the difference between labour and entrepreneurship as factors of production?

Anonymous

∙ 13y ago

Updated: 9/27/2023

Labour is human physical and mental effort directed in a production process, and the reward for it is wage or salary. Entrepreneur is a self-driven factor employing all aspects of making a given product. Profit is the reward for that endeavor.

Wiki User

∙ 13y ago

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What is the relationship between factors of production and entrepreneurship?

The characteristics of entrepreneurship as factor of production include capital, which is the money needed to start the business. Any part of the business that has to do with the money is a characteristic of entrepreneurship.

What are the five factors of production?

The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources

Define factors of production?

Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.

What is Considered one of the primary factors of production plus?

Entrepreneurship

Four basic factors of production?

Land, labor, capital, and entrepreneurship.

Related Questions

What is the relationship between factors of production and entrepreneurship?

The characteristics of entrepreneurship as factor of production include capital, which is the money needed to start the business. Any part of the business that has to do with the money is a characteristic of entrepreneurship.

What are the five factors of production?

The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources

Define factors of production?

Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.

What are four factors of production?

Labour Land Capital Entrepreneurship

Which factors of production earn the most income in Pakistan?

Entrepreneurship

What is Considered one of the primary factors of production plus?

Entrepreneurship

What are the four factors of production in making steel?

The four factors of production are: Natural resources Capital Labour Entrepreneurship.

Factors of production history?

Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.

What is land and natural resources labor capital and entrepreneurship?

Factors of Production

Four basic factors of production?

Land, labor, capital, and entrepreneurship.

What is the goal of entrepreneurship?

use the factors of production to create something of value

What are the four factors of production of a car?

WHAT ARE THE FOUR FACTORS OF PRODUCTION FOR A CAR!? not land labor capital goods and entrepreneurship but what are the actual items

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