ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Machines, Money, Oil, Plastic
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money, big cars, money, diamond rings
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Natural Resources, Labor, Capital, Entrepreneurship
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None of the above
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Detailed explanation-1: -The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Detailed explanation-2: -Economists define four factors of production: land, labor, capital and entrepreneurship.
Detailed explanation-3: -Key Takeaways The four factors of production are land, labor, capital, and entrepreneurship.
Detailed explanation-4: -Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land refers to natural resources, labor refers to work effort, and capital is anything made that is used to make something else.
Detailed explanation-5: -Land as a factor of production. As a factor of production, land can take on various forms-from raw property to commercial real estate. Labor as a factor of production. Capital as a factor of production. Entrepreneurship as a factor of production. 15-Feb-2021