In terms of contribution to total income in the United States,the single MOST important factor of production is:
A)capital.
B)labor.
C)land.
D)entrepreneurship.

Question

Quizplus · Accepted Answer

Labor, which refers to the physical and mental effort of people, contributes the most to total income in the United States. This is because the US economy is primarily a service-based economy, relying on the skills, knowledge, and productivity of its workforce to generate income and create wealth. While other factors of production such as capital and land also play important roles, it is the human capital and ability to work that ultimately drives economic growth and development.

In Terms of Contribution to Total Income in the United