HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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land, labor, capital
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government, military, colonies
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raw materials, natural resources, man-made goods
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road, railway, and water transport
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Detailed explanation-1: -These include any resource needed for the creation of a good or service. The factors of production are land, labor, capital, and entrepreneurship.
Detailed explanation-2: -This transcript discusses the four factors of production: land, labor, capital, and entrepreneurship. Land refers to natural resources, while labor is the work that goes into production. Capital is the tools and buildings used to produce things, and entrepreneurship is the know-how of putting it all together.
Detailed explanation-3: -The economic inputs used to make a profit are called factors of production. According to traditional economic theory, there are four main factors of production: land, labor, capital, and entrepreneurship.
Detailed explanation-4: -Land is generally considered one of the most important factors of production. Certain industries rely on land more than others.