Matt Newell, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views of the Rocky Mountains.He obtains a loan and purchases the necessary land, facilities, advertising, and five helicopters for his business.What important factor of production has he overlooked in creating his business?
A) Equipment
B) Capital
C) Labour
D) Entrepreneurship
E) Natural resources

Question

Quizplus · Accepted Answer

Matt Newell has purchased equipment, facilities, and advertising for his business, but he cannot operate the helicopter tours without hiring pilots and support staff. Labour is an important factor of production that he has overlooked.

Matt Newell, a Former Air Force Pilot, Decides to Operate