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& Min, C. (1997). The Substitution of Information Technology for Other Factors
of Production: A Firm Level Analysis. Management Science, 43 (12), 1660-1675.
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This paper will discuss the factors of production. Four factors, land, labor, capital, and entrepreneurship, are commonly recognized. However research has shown that a fifth factor, technology should be added and is becoming more important in today's economy and almost overshadowing the previous four factors of production...
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