Factors of production are
A)Scarce in every society.
B)Scarce only in advanced countries.
C)Scarce only in the poorest countries of the world.
D)Unlimited in quantity.

Question

Quizplus · Accepted Answer

Factors of production, such as land, labor, and capital, are limited resources that are scarce in every society. This scarcity is what leads to economic trade-offs and the need for efficient allocation and utilization of these resources.

Factors of Production Are