ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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capital
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entrepreneurship
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labor
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price
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Detailed explanation-1: -Money is NOT a productive resource. Money is used to purchase productive resources.
Detailed explanation-2: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
Detailed explanation-3: -Understanding productive resources, the resources required to produce goods and services that people want, is important to understanding the economic world around us. There are three kinds of productive resources: human, natural, and capital.
Detailed explanation-4: -Capital, labour, and natural resources are productive resources. Q. Resources like capital and land are more important than human resources.
Detailed explanation-5: -Answer and Explanation: The correct answer to the given question is option c. Money. The four resources or factors of production for goods are land, labor, capital, and entrepreneurship.