Question

Of the many factors of production,which factor is the most important?

Answer 1

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.

Explanation:

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Answer 2

Answer:

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.