What do economists mean by the following concepts? - Factors of production. - Factor substitution - Technological
Question:
What do economists mean by the following concepts?
- Factors of production.
- Factor substitution
- Technological advances.
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Factors of Production In economics factors of production refer to the resources or inputs that are used in the production process to create goods and services The classical factors of production are t...View the full answer
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Related Book For 
Principles Of Environmental Economics And Sustainability
ISBN: 9780815363545
4th Edition
Authors: Ahmed Hussen
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