Question 39
ProductionFactors of production can be described as the
- A.resources required for the provison of goods and services
- B.skills involved in deciding and directing the flow of goods
- C.monetary tools employed by government to ensure stable production
- D.elements involved in the process of formulating policies on production
Show the answer and explanation
Answer: A (resources required for the provison of goods and services)
Explanation
Land, labour, capital and entrepreneurship are the resources needed to produce goods and services.