oil is an example of which factor of production?\nland\ncapital\nlabor\nentrepreneurship
oil is an example of which factor of production?\nland\ncapital\nlabor\nentrepreneurship
Answer
Brief Explanations:
In economics, factors of production include land, labor, capital, and entrepreneurship. Land refers to natural resources. Oil is a natural - occurring resource extracted from the ground, thus it is a natural resource and falls under the category of land as a factor of production.
Answer:
Land