Four factors of production

Question 1

what are the four process of production

Answer 1

• Land
• Labour
• Capital
• entrepreneurship

Question 2

land

Answer 2

Raw materials provided by the environment. These are natural resources.

Question 3

Labour

Answer 3

Mental and physical efforts provided by people. These are human resources

Question 4

Capital

Answer 4

Physical resources which are human made goods used in production of other goods and services.

Question 5

Entrepreneurship

Answer 5

The ability and willingness of certain people to seize market opportunities and coordinate the process of production.

Question 6

Factors of production

Answer 6

inputs/resources used in the supply of goods and services

Question 7

Physical resources which are human made goods used in production of other goods and services.

Answer 7

Capital

Question 8

Raw materials provided by the environment. These are natural resources.

Answer 8

Land

Question 9

The ability and willingness of certain people to seize market opportunities and coordinate the process of production.

Answer 9

Entrepreneurship

Question 10

Mental and physical efforts provided by people. These are human resources

Answer 10

Labour