HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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land
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labor
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entrepreneurship
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capital
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Detailed explanation-1: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Detailed explanation-2: -Resource productivity is a measure of the total amount of materials directly used by an economy (measured as domestic material consumption (DMC)) in relation to GDP . It provides insights into whether decoupling between the use of natural resources and economic growth is taking place.
Detailed explanation-3: -There are three kinds of productive resources: human, natural, and capital. Human resources are the strength, education, and skills of people. Natural resources are the gifts of nature that are used to produce goods and services. Water, land, and minerals are examples of natural resources.
Detailed explanation-4: -Capital is the man made physical goods used to produce other goods and services.