Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services. Labor resources include the work done by the waiter who brings your food at a local restaurant as well as the engineer who designed the bus that transports you to school.The third factor of production is capital. Think of capital as the machinery, tools and buildings humans use to produce goods and services. Some common examples of capital include hammers, forklifts, conveyer belts, computers, and delivery vans. The fourth factor of production is entrepreneurship. An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. The most successful entrepreneurs are innovators who find new ways produce goods and services or who develop new goods and services to bring to market. Without the entrepreneur combining land, labor, and capital in new ways, many of the innovations we see around us would not exist. Think of the entrepreneurship of Henry Ford or Bill Gates. Entrepreneurs are a vital engine of economic growth helping to build some of the largest firms in the world as well as some of the small businesses in your neighborhood. Entrepreneurs thrive in economies where they have the freedom to start businesses and buy resources freely. The payment to entrepreneurship is profit. Hope this helps!
Physical exercise in the late adulthood facilitates neurogenesis in the hippocampus.
<u>Explanation:</u>
Physical exercise is always a better thing; it makes you healthy and fit.
Especially in adulthood, it helps in increasing the memory and learning capacity by facilitating the neurogenesis.
It helps in nervous system to produce NCS neutral stem cells.
Neurogenesis is the process that continues in the adulthood, so by the physical exercise one can enhance this process for better memory power and good learning abilities.
Selective Perception could be seen when a person is sticking to one news channel in media who is known to believe and support a certain type of narrative while refusing to listen to opposing point of view. Such person tend to prefers to live in a bubble rather than confronting the possibility that he/she could be wrong.
