The Basic Factors of Production Include

question 60

Multiple Choice

The basic factors of production include

• A)Land,labor,money,and capital.
• B)Land,labor,money,and inputs.
• C)Labor and money.
• D)Land,labor,capital,and entrepreneurship.

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Definitions:

Financial Advantage

Refers to the benefit or upper hand that a business or individual has in a financial situation, often leading to better profitability or investment outcomes.

Common Fixed Costs

Costs that are shared by several segments, products, or projects of a company, not attributable directly to any individual segment.

Divisions

Separate units within a larger company, often structured around specific products, geographical locations, or market segments, each potentially with its own management.

Segment

Any part or activity of an organization about which managers seek cost, revenue, or profit data.