The factors of production are best defined as the

a. output produced from raw materials.
b. inputs used to produce goods and services.
c. wages paid to the workforce.
d. goods and services sold in the market.

b

Economics

You might also like to view...

List and discuss various types of goods and services omitted from measured GDP

What will be an ideal response?

View
Economics

Which of the following is NOT a supervisory function?

a. marketing b. planning c. staffing d. organizing

View
Economics