In 1733 John Kay with a "Flying Shuttle" or in 1765 James Hargreavers with the "Spinning Jenny"
Women in Sparta were educated <span />
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Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.
In a mixed economic system, most economic decisions are made by consumers or sellers, but some economic decisions are made by the government, such as those dealing with safety regulations, infrastructure (e.g., roads), education, military spending, and certification and business licensing.
Money helps to facilitate trade. Money is a medium exchange because buyers and sellers agree to its common value. Money can lose its value during periods of hyperinflation, when too much money is dumped into an economy.
Explanation:
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