Question

The value of an entrepreneur’s resources that she uses in production are known as

Answer 1

Answer:

capital

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Answer 2

The value of an entrepreneur's resources used in production are known as "factors of production" or simply "factors."

Factors of production are the inputs that are used to produce goods and services. They include:

• Land: natural resources, such as land, minerals, water, and forests.

• Labor: human effort, including physical and mental work, used in the production process.

• Capital: goods used in production, such as machines, buildings, and tools.

• Entrepreneurship: the drive to organize the other factors of production and bring a new product or service to market.

These factors of production are combined in various ways to create the final output of goods and services. The value and quantity of the factors of production influence the cost and efficiency of production and ultimately affect the competitiveness of a business in the market.

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