Question

describe the economic factors of production: land, labor, capital, and entrepreneurship; and

Answer 1

Answer:

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. ... Labor is the effort that people contribute to the production of goods and services.

Explanation:

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Answer 2

Answer:

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. ... The income that resource owners earn in return for land resources is called rent. The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services.

Explanation: