Which of the Following Are the Three Factors of Production

question 39

Multiple Choice

Which of the following are the three factors of production?

• A) labor,business,factories
• B) land,labor,capital
• C) workers,government,business
• D) capital,government,land
• E) business,land,labor

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Definitions:

Interdependence

Interdependence in economics describes a situation where entities such as individuals, businesses, or countries depend on each other to some extent for resources, goods, services, or finances.

Oligopolistic Firms

Businesses operating in a market structure where a few companies have the majority of market share and can often influence prices and market conditions.

Sales

The activities involved in selling goods or services to customers, often measured by the amount of revenue generated.

Rivals

Competitors within the same industry or market vying for the same customer base.