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what are the factors of production? How can economies grow when one or more of the...

what are the factors of production? How can economies grow when one or more of the factors is weak?

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What are the factors of production? How can economies grow when one or more of the factors is weak?

The components of production are natural resources, capital, human resources and entrepreneurship. An economy can only grow when one or more factors are weak (as Hong Kong has done) because an economy can succeed when it is able to recognize and promote entrepreneurship. Hong Kong ranks among the richest economies because "the government actively encouraged entrepreneurship, which boosted wealth creation."

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