Question

How do land, labour and capital enable an entrepreneur to carry out production? 9 What does a fixed canital comnrime nt​

Answer 1

Answer:

Land refers to natural resources, labor refers to work effort, and capital is anything made that is used to make something else. The last resource, entrepreneurship, refers to the ability to put the other three resources together to create value.

Answer 2

Land, labor, capital, and entrepreneur are factors of production.

Explanation:

1. The most common factors of production are land, labor, capital, and entrepreneur. Land, labor, and capital enable an entrepreneur to carry out production because without the other resources an entrepreneur cannot do anything.
2. An entrepreneur is a person with creative ideas. However, he cannot work with these ideas if he does not have the capital to buy land and pay the labor.
3. An entrepreneur can also not work without land because if it does not have a place to carry out the operations, the ideas will not take the form of real projects.