question 11 1 pts which are factors of production? natural resources labor capital entrepreneurship inflation
question 11 1 pts which are factors of production? natural resources labor capital entrepreneurship inflation
Answer
Brief Explanations:
In economics, factors of production are the resources used in the production of goods and services. Natural resources are raw - materials from nature, labor is the human effort, and capital includes tools, machinery, etc. Entrepreneurship can also be considered a factor but is not always grouped with the basic three. Inflation is not a factor of production; it is a measure of the general price level increase.
Answer:
Natural resources, Labor, Capital