A factory can be thought of as
A)a land and labor combination.
B)a trade-off with land.
C)physical capital.
D)a type of entrepreneurship.

Question

Quizplus · Accepted Answer

A factory is a type of physical capital. It includes buildings, machinery, and equipment used in the production of goods. Land and labor are also important factors of production, but they are not specific to a factory. Trade-off with land refers to the opportunity cost of using land for factory production instead of other purposes, and entrepreneurship involves the process of identifying and creating business opportunities, which may include the creation of factories, but is broader than just the physical capital involved.

A Factory Can Be Thought of as