The four factors of production (or types of resources) are

a. land, labor, capital, and money.
b. land, labor, capital, and entrepreneurial ability.
c. labor, capital, technology, and entrepreneurial ability.
d. labor, capital, entrepreneurial ability, and money.

Question

10-01-2020
Business

contestada

The four factors of production (or types of resources) are

a. land, labor, capital, and money.
b. land, labor, capital, and entrepreneurial ability.
c. labor, capital, technology, and entrepreneurial ability.
d. labor, capital, entrepreneurial ability, and money.

Respuesta :

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pristina pristina · Answer 1 · 2020-01-10T11:24:43+01:00

Answer:

b. land, labor, capital, and entrepreneurial ability is the correct answer.

Explanation:

Factors of production are needed in the production to produce goods and services.

The four factors of production are:

land: includes natural resources such as water, natural gas, forests, oil and coal which are used to produce finished products and service.

labor: it includes all human input.

Capital: refers to the manufactured resources and man-made resources such as machines, factories, computers, hammers.

Entrepreneurial ability.: is the willingness and ability to manage and develop a business plan along with any type of risk in order to get a profit.

Sam1s Sam1s · Answer 2 · 2022-01-11T12:55:34+01:00

The four factors of production (or types of resources) are :

b. land, labor, capital, and entrepreneurial ability is the correct answer.

The factors of production are:

Land: It includes natural resources such as water, natural gas, forests, oil and coal used to produce finished products and services.

Labor: It contains all human inputs.

Capital: It refers to manufacturing and man-made resources such as machines, factories, computers and hammers.

Entrepreneurship Skills: The willingness and ability to manage and develop business plans and risks of all kinds to generate profits.

Thus, the correct option is B.

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The four factors of production (or types of resources) are a. land, labor, capital, and money. b. land, labor, capital, and entrepreneurial ability. c. labor, capital, technology, and entrepreneurial ability. d. labor, capital, entrepreneurial ability, and money.

Respuesta :

Otras preguntas

The four factors of production (or types of resources) are

a. land, labor, capital, and money.
b. land, labor, capital, and entrepreneurial ability.
c. labor, capital, technology, and entrepreneurial ability.
d. labor, capital, entrepreneurial ability, and money.