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1.2. Factors of production

Syllabus
0455–2027–2028
Topic
1.2
Level
—

1.2.1—Factors of production and their rewards

  • definitions of factors of production: land, labour, capital and enterprise
  • rewards to factors of production: rent, wages, interest and profit

1.2.2—Quantity and quality of factors of production

  • causes of changes in the quantity and quality of factors of production

Objective notes

2 learning objectives
ConceptIGCSE Economics