Question

what is the relationship between production system factors and optimal economic utilization of firms’ resources.

Answer 1

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.

Answer 2

The relations can be explained by the land, capital and labour.

Explanation:

• The production factors are the resource that people use to produce the goods and services and are the building blocks of the economy and they are divided into the factors of protection as land, capital, and labour. Land being a raw resource is matter of production that can be renewable and nonrenewable.

• The second factors of production are the labour that is an effort that people contribute to the prediction of goods and services. It includes the artist's creation of a painting and third factors are capital and that involves the machine tools and buildings.

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• brainly.in/question/18188234 answered by Sadanandtripathi864.