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What (who) is factors of production - definition
Factors of production
RESOURCES USED IN THE PRODUCTION PROCESS TO PRODUCE OUTPUT
Factor of production; Market resources; Resource (economics); Strategic resource; Production factor; Unit of production; Units of production; Input (economic); Production factors; Economic inputs; Factors of the production; Factors of production (Marxism); Input (economics); Agents of production
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.
Human Factors (journal)
JOURNAL
User:Luke.j.ruby/Human Factors: The Journal of Human Factors and Ergonomics society; Hum Factors; Hum. Factors; Human Factors: The Journal of the Human Factors and Ergonomics Society; Human Factors: The Journal of the Human Factors & Ergonomics Society
Human Factors is a peer-reviewed academic journal that publishes scientific studies in ergonomics. The editor-in-chief is Patricia R.
Minister of Production
BRITISH GOVERNMENT MINISTER; 1942–1945
Minister of War Production
The Minister of Production was a British government position that existed during the Second World War, heading the Ministry of Production.
Examples of use of factors of production
1. Under a VAT, it makes no difference what factors of production are employed to produce a good, how many times it is traded, how the production chain is organized or where the good is produced.
2. Today’s technologically advanced economies are truly knowledge based.» That premise rests on breaking away from the neo–classical economics model, which recognized only two factors of production — labor and capital — for over two centuries.
3. According to the university, the undergraduate degree in industrial engineering was developed to provide students with the knowledge and expertise to determine the most effective ways for an organisation to use the basic factors of production, including people, machines, materials, information and energy to make or process a product.