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Questions and Answers
One of the factors of production is ______.
One of the factors of production is ______.
land
Another factor of production is ______, which includes tools and machinery.
Another factor of production is ______, which includes tools and machinery.
capital
The factor of production that involves human effort is known as ______.
The factor of production that involves human effort is known as ______.
labor
The entrepreneurship factor is also referred to as ______.
The entrepreneurship factor is also referred to as ______.
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All four factors of production are essential in ______ goods and services.
All four factors of production are essential in ______ goods and services.
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Study Notes
Factors of Production
- Land is one of the factors of production
- Capital, which includes tools and machinery, is another factor of production
- Labor is the factor of production that involves human effort
- The entrepreneurship factor is also referred to as management
- All four factors of production are essential in producing goods and services
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