ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Land, Labour, Capital & Oragnization
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Rent, Labour, Capital & Oragnization
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Land, Labour, Interest & Oragnization
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Land, Wages, Capital & Oragnization
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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: -The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy.
Detailed explanation-3: -There are four factors of production-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