Question

How will goods and services be produced?

Let @kimrose011 answer!​

Answer 1

Before goods and services can be distributed to households and consumed, they must be produced by someone, or by some business or organization. For example, most firms with large amounts of money invested in factories and equipment are organized as corporations.

Answer 2

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

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