Which of the Following Statements About Factors of Production Is

question 66

Multiple Choice

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

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

---

Definitions:

Objectivity

The practice of maintaining impartiality and neutrality, avoiding bias or subjective influence in judgments or actions.

Empirical Method

Gaining knowledge through the observation of events, the collection of data, and logical reasoning.

Objectivity

The quality of being impartial or neutral, free from personal bias or emotions, particularly in the analysis or presentation of data.

Science

The use of systematic methods to observe the natural world, including human behavior, and to draw conclusions.