The effort used to coordinate the factors of production and produce goods and services is called
A) entrepreneurship.
B) capital accumulation.
C) land ownership.
D) land.

Question

Quizplus · Accepted Answer

Entrepreneurship involves the use of management skills and the coordination of the factors of production (land, labor, capital) to produce goods and services. Capital accumulation refers to the accumulation of money or assets, but does not necessarily involve the coordination of factors of production. Land ownership and land are factors of production, but they do not inherently involve coordination efforts.

The Effort Used to Coordinate the Factors of Production and Produce