In Porter's model,a specialized factor of production would include
A)abundant natural resources.
B)a large workforce.
C)an extensive highway transportation system.
D)workers with advanced engineering skills.

Question

Quizplus · Accepted Answer

A specialized factor of production refers to a specific skill or resource required in the production process that is not easily replicable or substituted. In this case, advanced engineering skills are specialized and not easily found in all industries and locations. Abundant natural resources (A) and a large workforce (B) are not necessarily specialized factors, as they can be found in various industries and locations. An extensive highway transportation system (C) is not a factor of production, but rather a supportive infrastructure.

In Porter's Model,a Specialized Factor of Production Would Include