wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Suppose you are starting an economics tutoring institute. What are the factors you would consider as an entrepreneur for providing the service of education?

A
Hiring tutors
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
Facilitating classrooms
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Advertising
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Taking a loan for daily functioning
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D Taking a loan for daily functioning
Every production requires factors of production: land, labour, capital, and entrepreneurship. In the venture of starting a tuition centre, one might require a classroom as land, tutors as labour, and money as capital. However, advertising is not an essential factor for the production of the service.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Let's Solve a Few! Part 2
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon