Factors of Production Include

question 193

Multiple Choice

Factors of production include

• A) the economic system.
• B) land, labor, capital and entrepreneurship.
• C) labor and capital (not land, which is fixed).
• D) only capital, land, and labor.

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Definitions:

Central Agency

A government or administrative organization that operates at the central level of government, typically responsible for overseeing and implementing policies across various sectors.

Kurt Lewin

A psychologist often considered the founder of social psychology, known for his field theory and change management theories.

Douglas McGregor

An American social psychologist best known for proposing the Theory X and Theory Y concepts in the management field, relating to different views on worker motivation and behavior.

Chester Barnard

An American business executive and author, known for his theories on management and organizational theory, emphasizing the importance of cooperative effort.