BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What should we produce?
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How should we produce it?
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For whom should we produce it?
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What are the factors of production?
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Detailed explanation-1: -Expenditure does not come under the four main factors of production. The third factor of production is capital. Capital can be the machinery, tools, and buildings used by humans to produce goods and services.
Detailed explanation-2: -Air, water, and sunlight are not the economic resources. This is because these resources are present in abundance which means they are not scarce. The example of economic resources are land, labour, capital. Was this answer helpful?
Detailed explanation-3: -Answer and Explanation: c. Where to produce? is not one of the primary economic questions.
Detailed explanation-4: -Which of the following results from having scarce economic resources? The production of limited goods and services.