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70% complete compute equivalent units of production.
What is production?
Production is the process of mixing several material and immaterial inputs to create something for consumption. It is the act of producing an output, such as a good or service, that has value and contributes to people's utility.
Land, labour, capital, and entrepreneurship are the four production factors.
Production has six sides, according to Peterson and Anand (2004): technology, law and regulation, industry structure, organisational structure, professional careers, and market.
The four elements of production are inputs utilised in various combinations to produce goods and services for a profit. Land, labour, capital, and entrepreneurship are the production factors. They are the supply inputs required.
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