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Question
Production is organised by combining land, labour, physical capital and human capital, which are known as _____.
Production is organised by combining land, labour, physical capital and human capital, which are known as _____.
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Solution
The correct option is B Factors of production
Factors
of production is an economic
term that describes the inputs that are used in the production of goods or
services in order to make an economic
profit. The factors of production include land, labor, capital and entrepreneurship.
Factors of production is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. The factors of production include land, labor, capital and entrepreneurship.
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