BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Malaysia is providing incentive to draw talent to Malaysia. When these talents are employed they contribute to the production process. The talents are considered as a factor production of
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land
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labour
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entrepreneur
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capital
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Explanation:
Detailed explanation-1: -Land, Labour, Capital and Enterprise are the four factors of production which are required for running a firm or a company profitably.
Detailed explanation-2: -Labor is the human effort that can be applied to the production of goods and services. Labor’s contribution to an economy’s output of goods and services can be increased either by increasing the quantity of labor or by increasing human capital.
Detailed explanation-3: -Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital.
Detailed explanation-4: -Land, labour, and capital are considered as the means of production.
There is 1 question to complete.