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Factors of production Flashcards | StudBud

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What is the primary factor of production?

Renewable resources are resource used to produce goods and services

Factors of production

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Questions 5

Answers

1
Renewable resources are resource used to produce goods and services
True
False
2
What is the primary factor of production?
Land
Labor
Entrepreneurship
Capital
3
What are the 4 factors of production?
Land, Capital, Need & Wants
Water, Air, Food & Shelter
Land, Capital, Good & Service
Land, Labor, Capital & Entrepreneurs
4
Capital refers to man-made resources used in the production of goods and services.
False
True
5
Which Factor of production refers to the physical and mental work done by individuals?
Capital
Entrepreneurship
Land
Labor