Janet owns a modern 600acre farm that grows corn and soybeans. Instead of selling soybeans at market rates, she decides to use them to produce soy milk and sells flavored soy milk in cartons. By taking the risk of launching her own business, Janet exemplifies the _____ factor of production.
A) Entrepreneurship
B) Natural resources
C) Human resources
D) Capital

Question

Janet owns a modern 600­acre farm that grows corn and soybeans. Instead of selling soybeans at market rates, she decides to use them to produce soy milk and sells flavored soy milk in cartons. By taking the risk of launching her own business, Janet exemplifies the _____ factor of production.
A) Entrepreneurship
B) Natural resources
C) Human resources
D) Capital

Quizplus · Accepted Answer

Janet's decision to use her resources and start her own business showcases entrepreneurship, which involves taking risks and innovating to create new products or services. The other factors of production (natural resources, human resources, and capital) are important in the production process, but they do not necessarily involve the risk-taking and innovation that define entrepreneurship.

Janet Owns a Modern 600­acre Farm That Grows Corn and Soybeans

Janet Owns a Modern 600acre Farm That Grows Corn and Soybeans