2.6Â Â Essay: What, How, and For Whom? 1) It is conventional to divide the nation’s total production into four categories. Name and explain the four categories. In the United States, which category accounts for the largest share and the smallest share of the nation’s total production? 2) Explain the difference between consumption and capital goods. 3) Identify the four factors of production, and tell what type of income is earned by each factor. 4) What are the payments each factor of production receives?
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