The Productive Resource That Organizes Labor,land,and Capital Is

question 103

Multiple Choice

The productive resource that organizes labor,land,and capital is

• A) human capital.
• B) financial capital.
• C) entrepreneurship.
• D) government.
• E) capital.

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Definitions:

Direct Materials

The raw materials that are directly traceable to the production of goods.

Manufacturing Process

The sequence of operations involved in transforming raw materials into finished products.

Tangible Components

These are the physical assets of a business or product which can be seen, touched, and measured.

Manufacturing Cost

The total expense incurred in the process of producing a product, including raw materials, labor, and overhead costs.