Question

What are the Factors of Production? a land, money, manufacturing and workers b labor, capital, supply and demand c land, labor, capital, and entrepreneurship d entrepreneurship, innovation, natural resources and money

Answer 1

Answer:

C

Explanation:

The factors of production are used to produce an output.

There are 4 of these factors: land, labor, capital, and entrepreneurship.

Land refers to the natural resources.

Labor talks about the people who actually work to extract those natural resources and turn them into usable goods.

Capital is the man-made goods that are required for manufacturing.

Entrepreneurship is starting a business to sell certain goods.

Hope this helps!