The effort used to coordinate the factors of production is a description of
A) physical capital.
B) human capital.
C) labor.
D) entrepreneurship.

Question

Quizplus · Accepted Answer

The effort used to coordinate the factors of production is a function of entrepreneurship, which involves bringing together the other factors of production (land, labor, and capital) and organizing them in a way that creates economic value. Physical capital, human capital, and labor are all important factors, but none of them by themselves involves the coordination of all the factors to create economic value.

The Effort Used to Coordinate the Factors of Production Is