What are the factors of production and explain the allocation of resources

Social Studies

2 answers:

adoni [48]2 years ago

7 0

Answer:

Factors of Production Definition

The factors of production are land, labor, capital, and entrepreneurship. ... Since these factors are limited by nature, and human wants are unlimited, we, as a country, face a shared decision over the efficient allocation of these scarce resources or factors of production

forsale [732]2 years ago

4 0

The factors of production are land, labor, capital, and entrepreneurship. To put it in different terms, the factors of production are the inputs needed for supply. Hope this helps!

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