ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The inputs of production can be any of the four factors of production-land, labour, capital and enterprise. These inputs can be:i) tangible-things you can touch, like raw materials or machines; or ii) intangible-‘abstract’ things that can’t be touched-like ideas, talent or knowledge.
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Yes, I understand this from the notes
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No, I don’t understand this from the notes
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No, I don’t understand this, as I have not read the notes
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None of the above
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Explanation:
Detailed explanation-1: -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-2: -Economists define four factors of production: land, labor, capital and entrepreneurship.
Detailed explanation-3: -There are four factors of production-land, labor, capital, and entrepreneurship.
Detailed explanation-4: -Physical Capital. Land. Human Capital. Labour.
There is 1 question to complete.