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Dacey Rankins

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2024-09-19 17:12:05 -

Factor of production
What is a factor of production? DefinitionFactors of production are the limited resources needed to create goods and services, including land, labor, capital, and entrepreneurial skills.In business terminology, this phrase also describes a resource that is used to create a product or service.Factors of production are divided into:- labor resources, or labor;- investment resources, or capital;-...

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Mark Lorenzo

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2023-07-25 19:23:33 -

Types of market-oriented environmental tools
Key points The three main categories of market-oriented environmental policies are pollution charges, marketable permits, and better-defined property rights. A marketable permit program is a program in which a city or state government issues permits allowing only a certain quantity of pollution. These permits to pollute can be sold or given to firms free....

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Mark Lorenzo

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2023-07-24 17:50:01 -

What are market-oriented environmental tools?
Key points The three main categories of market-oriented environmental policies are pollution charges, marketable permits, and better-defined property rights. The advantage of market-oriented environmental tools is that, because of their incentives and flexibility, they can achieve any desired reduction in pollution at a lower cost to society than command-and-control...

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