The ability to use physical resources in creative ways to produce goods and services is known as

Question

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The ability to use physical resources in creative ways involves a combination of entrepreneurial ability, technology, and ideas to develop innovative ways of producing goods and services using resources efficiently. Labor (A) refers to the actual physical effort needed to produce goods and services, while natural resources (B) are the raw materials used in the production process. Physical capital (C) refers to the machinery, equipment, and other tools used in production, but these resources alone do not necessarily result in creative production. Therefore, the best choice is D - entrepreneurial ability, technology, and ideas.

The Ability to Use Physical Resources in Creative Ways to Produce