Angelheart2006idn
Answered

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define the four factors of production
1. Natural resources
2.labour
3.Capital
4.Entrepreneurhip​

Define The Four Factors Of Production 1 Natural Resources2labour3Capital4Entrepreneurhip class=

Sagot :

Carlamaefreires15idn

Answer:

1.Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest and cultural value.

2.Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms.

3.capital is the human-made tools, machinery, or devices that are used to produce a good or service.

4.Entrepreneurship refers to the initiatives taken by entrepreneurs, who typically begin as the first workers in their firms and then gradually employ other factors of production to grow their businesses.

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