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Question

Hajara is a fashion entreprenuer. Which of the following fall under the entrepreneurial category of factors of production?

A
Sewing skills
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B
Workspace
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C
Marketing skills
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D
Capital for the business
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Solution

The correct option is C Marketing skills
Resources that are used to produce goods and services are called the factors of production. The factors of production can be divided into four categories: land, labour, capital, and entrepreneurship. The entrepreneur combines the other factors of production to generate a profit. Experience, skills, knowledge, and ideas required to run the business are classified under entrepreneurship.

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