Question

Which statements correctly identify limitations of the factors of production? Check all that apply.

Answer 1

the answer is : Economies must consider their limitations when answering the three questions of economics.

Capital includes all money and physical facilities needed to create a product.

Labor is a factor driven by the size of the population, education, and standard of living.

Answer 2

The correct options are:

• Economies must consider their limitations when answering the three questions of economics.
• Capital includes all money and physical facilities needed to create a product.
• Labor is a factor driven by the size of the population, education, and standard of living.

In economics, the factors of production are the resources used to produce goods and services that meet human needs All goods, which are provided in a society, are achieved through the use of productive factors. large classes: land, labor, capital and organization. The production transformed into income is distributed among them, thus obtaining a remuneration.