What is a synonym for factors of production?

What is a synonym for factors of production?

The definition of factor of production in the dictionary is a resource or input entering the production of wealth, such as land, labour, capital, etc Also called: agent of production.

What is the synonym of factors?

element, part, component, ingredient, strand, constituent, point, detail, item, feature, facet, aspect, characteristic, consideration, influence, circumstance, thing, determinant.

What is a synonym and antonym for production?

noun. ( prəˈdʌkʃən, proʊˈdʌkʃən, pɝˈdʌkʃən) The act or process of producing something. Antonyms. loud nonattendance inactivity divest fire studio idle.

What are some synonyms for economics?

synonyms for economics

  • business.
  • finance.
  • social science.
  • the dismal science.

What is factor of production in economics?

In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

What is another term for factors of production quizlet?

Inputs are just another word for factors of production.

What is a synonym and antonym for factor?

noun. ( ˈfæktɝ) One of two or more integers that can be exactly divided into another integer. Antonyms. insignificant dissuade integrate differentiate add multiply divide. prime factor integer whole number common factor common divisor.

Is a factor synonym of component?

In strict usage, factor should only be used to refer to something which contributes to a result. It should not be used to refer to a part of something, such as a plan or arrangement; more appropriate alternatives to factor in this sense are words such as component or element.

What does production mean in economics?

Economic production is an activity carried out under the control and responsibility of an institutional unit that uses inputs of labour, capital, and goods and services to produce outputs of goods or services.

What is production in terms of economics?

Production is the process of combining various material inputs and immaterial inputs (plans, knowledge) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

What is a factor of production in economics?

What is another word for key factor?

What is another word for key factor?

basic ingredient critical detail
crucial element essential part
fundamanetal aspect important consideration
vital component

Is considered as synonym?

In this page you can discover 89 synonyms, antonyms, idiomatic expressions, and related words for considered, like: regarded, carefully thought about, investigated, well-chosen, believed, counted, avoided, contemplated, rejected, disregarded and excogitated.

What is a synonym for Such as?

Including, like, and namely: To substitute the phrase “such as” for a synonym like “including,” “like,” or “namely,” you can simply exchange the two without adjusting the rest of the sentence or punctuation.

Why are the factors of production important in economics?

The Importance of the Factors of Production If businesses can improve the efficiency of the factors of production, it stands to reason that they can increase production and create higher quality goods at lower prices. Any increase in production leads to economic growth as measured by GDP.