What Are the Five Factors of Production

question 45

Essay

What are the five factors of production?

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Definitions:

Total Fertility Rate

The total fertility rate measures the average number of children a woman would have over her lifetime, based on current birth rates, and is a critical indicator in demographic studies.

Kerala

A state located in the southwestern region of India, known for its backwaters, palm-lined beaches, and diverse culture and language.

Replacement Level

The fertility rate at which a population exactly replaces itself from one generation to the next, without migration.

Demographic Transition

A theory describing the transition from high birth and death rates to low birth and death rates as a country develops from a pre-industrial to an industrialized economic system.