Question

What are factors of production? Provide an example of each of the four factors of production. Make sure your answer is written in complete sentences

Answer 1

Answer:

The Four Factors of Production

Land, Labor, Entrepreneurship

The physical space and the natural resources in it (examples: water, timber, oil) The people able to transform resources into goods or services available for purchase The idea and motivation for creating a valuable good or service for people to buy

Explanation:

Answer 2

Answer:

The physical space and the natural resources in it (examples: water, timber, oil) The people able to transform resources into goods or services available for purchase The idea and motivation for creating a valuable good or service for people to buy

Explanation: