Which of the following are considered factors of production? I. Land
II) Labor
III) Physical capital
IV) Entrepreneurship
A) I and II only
B) I and III only
C) I, II and III only
D) I, II, III and IV

Question

Quizplus · Accepted Answer

All four factors of production (land, labor, physical capital, and entrepreneurship) are considered essential inputs for producing goods and services. Therefore, the correct answer is D, which includes all of them.

Which of the Following Are Considered Factors of Production? I