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Questions and Answers
What are economic resources also known as?
What are economic resources also known as?
Economic resources are also known as factors of production.
What is the purpose of business activity?
What is the purpose of business activity?
The purpose of business activity is to identify and satisfy the needs and wants of the people with the overall aim of earning profit.
What are the four factors of production?
What are the four factors of production?
The four factors of production are land, labor, capital, and entrepreneurship.
What is the reward for land?
What is the reward for land?
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What is the reward for labor?
What is the reward for labor?
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