Answer and Explanation:
Factors of production are resources or inputs put into the production of goods and services. There are four factors of production. They are: land, labour, capital and entrepreneurship
Land is considered a non depreciablle factor of production. It refers to all natural resources or gifts of nature and income from it is called rent.
Labour is human capital or input in production example workers in a factory
Capital is man made goods utilized to produce other goods
Entrepreneurship/entrepreneur is the factor of production that organizes the other factors of production and carries the economic risk
From the example, the factors of production include:
The forest with all the wood which falls under land factor of production.
Bill who falls under labour factor of production
His father's chainsaw which falls under capital factor of production
Bill's idea to use logs of wood for Christmas tree business constitutes entrepreneurship and Bill is also the entrepreneur here. This falls under the entrepreneurship factor of production
Answer:
Political / Regulatory
Explanation:
The political or regulatory environment of business comprises of different stakeholders which includes the government organization, political parties, legislation and laws. It is an environment which deals with activities of these stakeholders and factors affecting the administration of public affairs and business activities of different organizations.
Also, the regulatory environment deals with the activities or laws and legislation that have direct and indirect impacts on business operations. Such as:
1. Regulations on unfair business practices so as to create fair competition.
2. Protection of consumers from unfair business practices.
3. Ensure the society interest in business operations are not overridden by greed capitalist.
A plastic bag is used approximately 5 times before being thrown away.
We'll say what they mean, but not with malice. Patriotic – Scottish people might complain about the weather, or politics, or whatever but we're fiercely proud of their country and will defend it with their last breath. Fiery and bold. Historically Scots are brave, stubborn, and courageous.
