The Three Main Factors of Production, or Categories of Inputs

question 37

Short Answer

The three main factors of production, or categories of inputs, used by firms to produce goods and services are

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Definitions:

Effortful Retrieval

Effortful Retrieval is the process of intentionally recalling information from memory through conscious effort, unlike automatic recall which requires no deliberate effort.

Psychodynamic Theory

A psychological perspective that emphasizes the influence of the unconscious mind on behavior, as well as the importance of childhood experiences.

Repression

A defense mechanism where distressing thoughts, memories, or feelings are unconsciously excluded from awareness.

Autobiographical Memory

A type of memory system consisting of episodes recollected from an individual's life, based on a combination of episodic (personal experiences) and semantic (general knowledge and facts) memory.