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| 1. |
Explain any three factors of production. |
| Answer» <html><body><p><strong>Explanation:</strong></p><p><strong><em><u>Factors of production are the resources people use to produce goods and services; they are the <a href="https://interviewquestions.tuteehub.com/tag/building-905221" style="font-weight:bold;" target="_blank" title="Click to know more about BUILDING">BUILDING</a> blocks of the <a href="https://interviewquestions.tuteehub.com/tag/economy-21801" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMY">ECONOMY</a>. <a href="https://interviewquestions.tuteehub.com/tag/economists-448633" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMISTS">ECONOMISTS</a> <a href="https://interviewquestions.tuteehub.com/tag/divide-441023" style="font-weight:bold;" target="_blank" title="Click to know more about DIVIDE">DIVIDE</a> the factors of production into four categories: <a href="https://interviewquestions.tuteehub.com/tag/land-539118" style="font-weight:bold;" target="_blank" title="Click to know more about LAND">LAND</a>, labor, capital, and entrepreneurship.</u></em></strong></p><p></p><p><strong><em><u>⋆ ˚｡⋆୨୧˚ ˚୨୧⋆｡˚ ⋆</u></em></strong><strong><em><u>⋆ ˚｡⋆୨୧˚ ˚୨୧⋆｡˚ ⋆</u></em></strong></p></body></html> | |