Documents Factor Markets. Remember … u u A factor of production is something that is used to produce some...

Slide 1Factor Markets Slide 2 Remember … u u A factor of production is something that is used to produce some output. u u also called an input or a productive resource.…

Documents Profit, Rent,& Interest. Sources of Economic Profit u u reward for assuming uninsurable risks (for.....

Slide 1Profit, Rent,& Interest Slide 2 Sources of Economic Profit u u reward for assuming uninsurable risks (for example, unexpected changes in demand or cost conditions)…