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5 August, 20:55

Explain how demand for factors of production differ from that of goods and services

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  1. 5 August, 20:58
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    From previous lessons, we have learned that factors of production are land, labour, capital and entrepreneur ... The demand for a factor of production is a derived demand, meaning that a firm's demand for a factor of production is derived from its decision to supply a good in another market.
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