With regard to factors of production, it is correct to say that
A) natural resources are pretty evenly distributed across different countries.
B) the factors of production are managed differently in different countries.
C) capital is the most "unfair" factor of production.
D) entrepreneurs are a factor of production only in certain countries (e.g., China).
E) technology is the most important factor of production.

Question

Quizplus · Accepted Answer

The factors of production, including natural resources, labor, capital, and entrepreneurship, are managed differently in different countries based on their respective economic, political, and social systems. Some countries may have abundant natural resources, while others may rely more heavily on imported resources. Capital, while important, is not inherently unfair as it can be acquired through investment or savings. Entrepreneurs are a recognized factor of production in most countries with market-based economies. Technology is an important factor of production but not necessarily the most important.

With Regard to Factors of Production, It Is Correct to Say