What is a characteristic of factors of production?
A) They are used to produce goods and services.
B) They are owned by firms.
C) They are abundant in most economies.
D) They are provided by both firms and households.

Question

Quizplus · Accepted Answer

The characteristic of factors of production is that they are used to produce goods and services. Factors of production include land, labor, capital, and entrepreneurship. All of these factors are used in the production process to create goods and services that meet the needs and wants of consumers.

What Is a Characteristic of Factors of Production