ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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human capital
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natural resources
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entrepreneurship
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capital goods
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Detailed explanation-1: -Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural gas. The income that resource owners earn in return for land resources is called rent. The second factor of production is labor.
Detailed explanation-2: -Factors of production is an economic term that describes the inputs used in the production of goods or services to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production are land, labor, capital, and entrepreneurship.
Detailed explanation-3: -4 Key Resources-The four basic kinds of resources used to produce goods and services: land or natural resources, labor or human resources, capital, and entrepreneurship.
Detailed explanation-4: -Capital is the source of production.