Question

factors of production​

Answer 1

Answer:

Factors of production are the inputs needed for the creation of a good or service. The factors of production include land, labor, entrepreneurship, and capital.

1. Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit.

2. These include any resource needed for the creation of a good or service.

3. The factors of production include land, labor, capital and entrepreneurship. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors.

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Answer 2

{ANSWER}

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

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