Resources used by businesses to produce goods and services whether durable or non-durable are known as _______.

factor of production

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inputs

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consumable

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raw materials and stores

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Solution

The correct option is A factor of production
The resources used by the businesses to produce goods and services are called the factors of production. These can be durable or non-durable. Non-durable factors are the ones that are over once they are consumed. Durable factors are the ones which last for a long time. The factors of production are land, labor, capital, entrepreneur.

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