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Questions and Answers
Which factor of production refers to the physical space and natural resources used in production?
Which factor of production refers to the physical space and natural resources used in production?
- Labor
- Land (correct)
- Entrepreneurship
- Capital
Which factor of production represents the human effort, both physical and mental, used in the production of goods and services?
Which factor of production represents the human effort, both physical and mental, used in the production of goods and services?
- Capital
- Entrepreneurship
- Labor (correct)
- Land
Which factor of production encompasses the tools, machinery, and infrastructure used in the production process?
Which factor of production encompasses the tools, machinery, and infrastructure used in the production process?
- Labor
- Capital (correct)
- Entrepreneurship
- Land
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