Asked by Andres Rodriguez on May 07, 2024
Verified
Another term for factors of production is
A) inputs.
B) output.
C) goods.
D) services.
Factors Of Production
The resources used in the production of goods and services, which include land, labor, capital, and entrepreneurship.
Inputs
The resources such as labor, materials, and capital that are used in the production process to produce goods and services.
- Discern the entities involved in the economy and their respective roles.
Verified Answer
KH
Kaylee HannahMay 08, 2024
Final Answer :
A
Explanation :
Factors of production are also known as inputs because they are the resources used in the production of goods and services.
Learning Objectives
- Discern the entities involved in the economy and their respective roles.
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