QUESTION IMAGE
Question
select the correct answer.
which factor of production includes human - made resources used to produce a good or a service?
a. land
b. labor
c. capital
d. entrepreneurship
Brief Explanations
To solve this, we analyze each option:
- Option A (land): Refers to natural resources like land, minerals, etc., not human - made.
- Option B (labor): Involves human effort, skills, and time, not human - made resources.
- Option C (capital): By definition, capital in factors of production includes human - made resources such as machinery, tools, buildings, etc., which are used to produce goods or services.
- Option D (entrepreneurship): Is about the ability to organize other factors of production, not a human - made resource.
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C. capital