ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Human Resources
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Capital Resources
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Natural Resources
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Scarcity
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Detailed explanation-1: -In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Detailed explanation-2: -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-3: -The three basic building blocks of labor, capital, and natural resources may be used in different ways to produce different goods and services, but they still lie at the core of production.
Detailed explanation-4: -Land or natural resources. Labor. Capital. Entrepreneurial ability. 31-Mar-2022