PRC-3 · Chapter 9 · Question 12 of 45
In the study of economics, the terms 'Land, Labor, Capital, and Enterprise' are collectively known as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The factors of production
Explanation
The factors of production are the foundational economic resources required to produce any goods or services: Land, Labor, Capital, and Entrepreneurship.
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