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Question
State two 'active' factors of production. Give reasons to support your answer.
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Solution
Labour and Entrepreneur are two active factors of production. Land and capital can be used only when labour is employed on them.
No doubt, all factors are important in production because production results from cooperation among all the productive resources, yet labour is regarded as the single most important factor of production.
No doubt, all factors are important in production because production results from cooperation among all the productive resources, yet labour is regarded as the single most important factor of production.
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