INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The “gifts of nature” or natural resources not created by human effort.
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the tools, equipment, and factories used in production of goods and services
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people with all their efforts and abilities
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individuals who start a new business or bring a product to market.
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Detailed explanation-1: -economics, land refers to the “gifts of nature, ‘’ or natural resources not created by humans. “Land” includes deserts, fertile fields, forests, mineral deposits, livestock, sunshine, and the climate necessary to grow crops.
Detailed explanation-2: -Land – natural resources or ‘gifts of nature’ not created by human effort one of the four factors of production. 4. Capital – tools, equipment, and factories used in the production of goods and services; one of four factors of production.
Detailed explanation-3: -Land is an essential natural resource, both for the survival and prosperity of humanity, and for the maintenance of all terrestrial ecosystems.
Detailed explanation-4: -It forms a part of our Natural Environment. Was this answer helpful?
Detailed explanation-5: -Natural resources which a determinant of aggregate supply also known as land in economics refers to all the natural gifts which are present in the nature including air, water and land that can be used in the production process for the production of desired level of output in the economy.