Question

14) Which four factors are essesntial for the production of goods and services ?​

Answer 1

Answer:

Land, Labor, Capital and entrepreneurship

Explanation:

The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Answer 2

Explanation:

The Four Factors of Production

Land

The physical space and the natural resources in it (examples: water, timber, oil)

Labor

The people able to transform resources into goods or services available for purchase

Capital

A company's physical equipment and the money it uses to buy resources