In general,we can place all factors of production into which three categories?
A)Land,labor,and capital
B)Technology,land,and capital
C)Land,labor,and technology
D)Technology,labor,and capital

Question

Quizplus · Accepted Answer

The three traditional factors of production are land, labor, and capital. Land refers to natural resources such as water, minerals, and forests. Labor refers to the human effort involved in production, and capital refers to the tools, machinery, and other man-made resources used in production. While technology plays an important role in modern production, it is not considered a traditional factor of production.

In General,we Can Place All Factors of Production into Which