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Economics IGCSEPDF 8
118 pagesrevision 46932
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Land
Generally geographically immobile (cannot be physically moved).
Land
Capital
Varies. Some is geographically mobile (e.g., desks, computers). Some is immobile (e.g., a coal
mine, a specific machine in a factory).
Varies. Some is occupationally mobile (e.g., a pen, a general-purpose truck). Some is immobile
(e.g., specialised machinery,docks).
Enterprise
Generally geographically mobile (an entrepreneur can relocate).
Generally occupationally mobile (entrepreneurial skills are transferable between
industries).
Labour
Can be geographically immobile. Barriers include family ties, cost of living, lack of information,
and difficulty securing/affording accommodation.
Can be occupationally immobile. Difficulties arise if skills are not transferable between different
occupations (e.g., structural unemployment).
Mobility of Factors of Production
Mobility
fromone geographical area to another (geographical).
Changes in the Quantity and Quality
outward shift
An increase in the quantity or quality of the factors of production leads to an
the potential output of an economy (a Production Possibility Curve shift).
of
Generally Occupationally mobile (can be used for a new purpose, e.g., farmland to housing).
referstohow easily factorscan switch between different uses (occupational) or move