PRC-3 · Chapter 1 · Question 61 of 61
An agricultural enterprise leases 500 acres of fertile soil and accesses a nearby river for irrigation to grow wheat. In economic terminology, what factor of production do the soil and river represent?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Land
Explanation
The economic factor 'Land' encompasses not just physical real estate, but all naturally occurring resources, including soil, water, and minerals.
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