Asked by Alicia Gregory on May 05, 2024
Verified
Among the factors of production are
A) capital.
B) wages.
C) income.
D) all of the above
Factors Of Production
The inputs used in the creation of goods or services; traditionally includes land, labor, capital, and entrepreneurship.
Capital
Funds or financial assets leveraged by companies to fund their operations and grow their businesses.
- Grasp the concept of factors of production and their relevance in economic activities.
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
A
Explanation :
Capital is a factor of production, which includes natural resources, labor, capital, and entrepreneurship. Wages and income are not factors of production; they are earnings derived from the contribution of labor and capital to the production process.
Learning Objectives
- Grasp the concept of factors of production and their relevance in economic activities.