Factors of production are grouped into four categories, which are _. is an example of __.

1 answer:

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Factors of production are grouped into four categories, which are land, labor, capital and entrepreneurship. Land are natural resources, labor is the work for a paycheck (earns wages), capital denotes physical objects,like buildings, plants, machinery or non-physical things like human skills, knowledge and entrepreneurship stands for the ability to organize production, risk taker, ideas... A worker is an example of labor.

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Factors of production are grouped into four categories, which are _______. ______ is an example of ______.

Factors of production are grouped into four categories, which are _. is an example of __.