The Four Factors of Production That Produce Goods and Services

question 149

Multiple Choice

The four factors of production that produce goods and services are

• A) labor, capital, profits, and entrepreneurship.
• B) money, labor, rent, and profit.
• C) labor, capital, land, and entrepreneurship.
• D) wages, interest, rent, and profit.
• E) wages, prices, quantities, and employment.

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Definitions:

Integrated Management Program

A coordinated approach to planning, executing, and evaluating projects or operations across multiple sectors or disciplines.

Environmentally-friendly

Practices or products that have minimal impact on the environment and contribute to ecological balance.

Climate change

Long-term alterations in temperature, precipitation, and other atmospheric conditions on Earth, largely driven by human activities.

Solar panels

Devices that convert sunlight into electricity, consisting of many photovoltaic cells.