HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Land, Labor, Farmers, and Factories
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Natural Resources (including land), Labor, Capital, and Entrepreneurs
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New Technology, Factories, Labor, and Entrepreneurs
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Land, Natural Resources, Capital, and Labor
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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: -In conclusion, the four factors of production – land, labor, capital, and entrepreneurship – played a significant role in determining which nations were able to industrialize after Britain.
Detailed explanation-3: -Factors of production is an economic concept that refers to the inputs needed to produce goods and services. The factors 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. 03-Feb-2023