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Hey,

In my econ class, I need to write about four factors of production. I know they are Land, Labor, Capital, and Management. However, I need to related this to kitchen, and I am sort of confused.

Here's the question description:

Economists sometimes compare a household to a factory or business. Consider your kitchen. Now, think about how the four factors of production are used in your kitchen (be specific)? Who is the entrepreneur? Can you relate this to the production possibilities frontier (hint: using the oven to bake one thing means...)?

Any ideas on that?

Thanks in advance!

2007-10-01 12:43:41 · 1 answers · asked by abe_cooldude 1 in Politics & Government Other - Politics & Government

1 answers

Land is the oven, capital are the ingredients for cooking, labor is the helper while management is the cook. This is an effective kitchen with an effective production.

2007-10-01 13:11:57 · answer #1 · answered by FRAGINAL, JTM 7 · 0 0

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