In terms of contribution to total U.S.income, the least important factor of production is:
A)capital.
B)labor.
C)natural resources.
D)entrepreneurship.

Question

Quizplus · Accepted Answer

While natural resources play an important role in certain industries, such as mining or agriculture, their overall contribution to total U.S. income is relatively small compared to capital, labor, and entrepreneurship. Capital refers to the physical assets used in production, such as machinery and buildings, while labor refers to the work done by individuals. Entrepreneurship is the process of bringing together the other factors of production to create goods or services.

In Terms of Contribution to Total U