As You Consider the Factors of Production, Which of the Following

question 90

Multiple Choice

As you consider the factors of production, which of the following did management theorist Peter Drucker believe to be one of the most important contributing factors to increasing our nation's wealth?

• A) Land
• B) Labor
• C) Knowledge
• D) Capital

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Definitions:

General Mills

An American multinational manufacturer and marketer of branded consumer foods sold through retail stores, known for products like cereals, snacks, and more.

Vertical Marketing Systems

A coordinated approach to distribution and marketing designed to ensure that products or services flow smoothly from the producer to the consumer with the involvement of various intermediaries.

Channel Economies

The cost savings and efficiency gains derived from using effective distribution channels to deliver products or services to consumers.

Centrally Coordinated

Managed or organized from a single, central point, often referring to administrative or operational activities.