Which of the Following Statements About Factors of Production Is

question 170

Multiple Choice

Which of the following statements about factors of production is the most accurate?

• A)the five factors of production are energy,capital,labour,leadership and money.
• B)wealth creation in poor nations is slowed by chronic shortages of labour.
• C)each of the factors of production is equally important in creating wealth.
• D)entrepreneurship and knowledge are the most important in creating wealth.

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Definitions:

Management Consulting

A professional service that provides expertise and advice to businesses seeking to improve their operations, strategy, and performance.

Singing Career

The professional pursuit of performing music vocally, which may include live performances, recording, and collaborating with other musicians.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in maintaining the business.

Intent Of Partners

The shared objectives or purposes behind forming a partnership among business participants.