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The four factors of production are: Select one: a. money, management, labor, and building. b. capital, management, people, and houses. c. capital, management, labor, and land. d. financial, structural, cultural, and social.

Respuesta :

tutordamola

Answer:

The answer is C.

Explanation:

Capital, management (entrepreneur), labor and land are factors of production.

Factors of production are the resources used to generate goods and services.

The factor payment or rewards for the factors of production are as follows:

Capital - Interest

Management (entrepreneur) - Profit

Labor - wages

Land - rent

Answer:

The correct answer is letter "C": capital, management, labor, and land.

Explanation:

Factors of production is an economic concept that describes the general inputs used to manufacture goods and services for profit. The factors of production consist of:

  • Land: land itself and the raw materials coming from the land.
  • Labor: staff doing both physical and mental activities to keep a company running.
  • Capital: refers to the buildings, equipment, and tools used in the manufacturing process including both social and intellectual capital.
  • Management: offers innovation and innovation in the utilization of certain factors that help to create a successful company.

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