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The Four Factors of Production Are Natural Resources, Capital, Money

question 86

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The four factors of production are natural resources, capital, money, and entrepreneurship.


Definitions:

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible.

Net Efficiency

A measure of the effectiveness of an operation, typically calculated as the ratio of useful output to total input, factoring in losses and waste.

Remittances

Money sent by migrants to their home country, often to support family members.

Migration

The movement of people from one place to another with the intention of settling temporarily or permanently in the new location.

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