"Cost Is an important factor in the development of natural resources" Explain The statement
Answers
Answered by
4
Explanation:
hope it'll help you have a wonderful day ahead
Attachments:
Answered by
3
→Answer :
Economic growth only comes from increasing the quality and quantity of the factors of production, which consist of four broad types: land, labor, capital, and entrepreneurship.
The factors of production are the resources used in creating or manufacturing a good or service in an economy
The factors of production are the resources used in creating and producing a good or service and are the building blocks of an economy.
The factors of production are land, labor, capital, and entrepreneurship, which are seamlessly interwoven together to create economic growth.
Improved economic growth raises the standard of living by lowering production costs and increasing wages.
Similar questions