Question : Enterprises combines factors of production to produce goods and services. Factors of production involves __________________________.
Option 1: Land and labour
Option 2: Capital and entrepreneurs
Option 3: Land, labor, capital and entrepreneurs
Option 4: Land and entrepreneurs
Correct Answer: Land, labor, capital and entrepreneurs
Solution :
Question : It involves deciding the technique of production to be used to produce goods and services?
Question : The technique used where more of labour are used to produce goods and services.
Question : The technique used where more of capital are used to produce goods and services.
Question : Buildings, machinery, tools, and equipment are a few examples of the capital goods that firms employ to produce their goods and services.
Question : Flow of Goods and Services and factors of production across different sectors in a barter economy is known as:
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