ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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capital resources
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natural resources (land)
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Entrepreneurship
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It is not a factor of production, it is a product.
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human resources (labor)
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Detailed explanation-1: -One of the primary components of a MagnaFlare is ground magnesium. How would the magnesium ore, from which ground magnesium is made, be classified as a factor of production? It is not a factor of production, it is a product.
Detailed explanation-2: -Natural resources that may be used to make pizza include tomatoes, onions, mushrooms, olives, anchovies, garlic, peppers, salt, pepper, oregano, basil, and water. 8. A capital resource is a good that is produced and used to make other goods and services.
Detailed explanation-3: -Four Factors of Production: Land, Labor, Capital & Entrepreneurship-Quiz & Worksheet.
Detailed explanation-4: -The four factors of production are land, physical capital, human capital, and entrepreneurship. The reward for land is rent, for capital is interest, for labor or human capital is wages, and for entrepreneurship is profit.
Detailed explanation-5: -The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services. Labor resources include the work done by the waiter who brings your food at a local restaurant as well as the engineer who designed the bus that transports you to school.