ECONOMICS
BARRIERS TO TRADE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
natural resources
|
|
|
capital resources
|
|
|
human resources
|
|
|
entrepreneurship
|
Detailed explanation-1: -Capital resources include money to start a new business, tools, buildings, machinery, and any other goods people make to produce goods and provide services.
Detailed explanation-2: -Capital as a factor of production refers to capital goods, or man-made resources, such as tools and infrastructure, used in the production of a good or service.
Detailed explanation-3: -The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests.
Detailed explanation-4: -Land as a Factor of Production. Labor as a Factor of Production. Capital as a Factor of Production. Entrepreneurship as a Factor of Production. More Resources. 29-Nov-2022