What are factor of production
economics ouestion
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Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. ... Some common land or natural resources are water, oil, copper, natural gas, coal, and forests.
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Answer:
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. ... Some common land or natural resources are water, oil, copper, natural gas, coal, and forests.
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