The role of _______ in the production process is central to why our country is rich and most of the rest of the world is poor.

Question

Quizplus · Accepted Answer

Capital refers to the tools and equipment used in the production process. Countries that have a lot of capital tend to be more productive and wealthier than those that do not. Labor (A) and land (B) are also important factors in production, but the presence of capital is often what differentiates wealthy countries from poorer ones. Government (D) can play a role in creating policies that promote capital accumulation, but it is not the central factor in why some countries are rich and others are poor.

The Role of _______ in the Production Process Is Central