Question

Knowledge about how the world works that is used to produce goods and services is: Please choose the correct answer from the following choices, and then select the submit answer button.

Answer 1

Answer:

Hi

The factors of production are the basic elements to produce goods and services to meet our needs. They can be nature, work and capital, but currently, it considers that there are five productive factors, since the three already mentioned have been added, the human knowledge that is incorporated into the work and technology factor, which is incorporated into the capital.

- Natural resources. They are those that are available in nature and are used as raw material (minerals, trees, plants) or as a source of energy (water, oil, wind) in the production of goods.

- Capital. It is the financial resources, such as money, that must be invested in the production of new goods or services. Material resources are also counted as part of the capital factor, it is the set of material goods created by people and used to produce goods or services.

- Job. Most important productive factor and refers to the physical and intellectual effort developed by people, with the objective of intervening in the productive activity. Its effort, its educational level, its technical training and professionalism, as well as its values are essential for the quality of the production process and the success of a company.

Explanation: