Factors of production include land, labor, capital, and entrepreneurship. These factors interact to generate wealth in capitalist economies. Understanding these can enhance investment and business ...

Learn how the Heckscher-Ohlin Model explains international trade and resource allocation, influencing a nation's export strategies based on resource abundance.

Joel Mokyr, Philippe Aghion and Peter Howitt won the prize for showing how “society must keep an eye on the factors that ...