Question

What factors must be considered when deciding how to produce a good or service?

Answer 1

Answer:

Factors of production are resources a company uses to generate a profit by producing goods and services. Land, labor, capital and entrepreneurship are the four categories of factors of production.

Answer 2

Explanation:

Factors of production are the inputs needed for the creation of a good or service. The factors of production include land, labor, entrepreneurship, and capital.