Question

Taylor needs a natural resources in his venture to make his enterprise possible. Which of the following isn't considered a capital resource Taylor will need?
Module 8 EPF

Answer 1

Answer:

The factors of production typically include land, labor, capital, entrepreneurship, and the state of technological progress.

Explanation:

In economics, capital typically refers to money. But money is not a factor of production because it is not directly involved in producing a good or service.

Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or pay wages. For modern mainstream economists, capital is the primary driver of value.