unit 1 economic fundamentals test\nwhat are the factors of production?\n- goods and services\n- risk and…

unit 1 economic fundamentals test\nwhat are the factors of production?\n- goods and services\n- risk and opportunity\n- land, labor, capital, and entrepreneur\n- wages, salaries, and profits

unit 1 economic fundamentals test\nwhat are the factors of production?\n- goods and services\n- risk and opportunity\n- land, labor, capital, and entrepreneur\n- wages, salaries, and profits

Answer

Brief Explanations:

The factors of production in economics are the resources used in the production of goods and services. They are land (natural resources), labor (human effort), capital (physical and financial assets), and entrepreneurship (the ability to organize and manage the other factors).

Answer:

C. land, labor, capital, and entrepreneur