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JAMB Commerce 2009 Question 4

Question 4

Production

Resources harnessed in certain proportion to create goods and services are

  1. A.factors of production
  2. B.technology and labour
  3. C.land and entrepreneur
  4. D.raw materials
Show the answer and explanation

Answer: A (factors of production)

Explanation

Land, labour, capital and the entrepreneur are combined to produce goods and services: the factors of production.