level: Level 2
Questions and Answers List
level questions: Level 2
| Question | Answer |
|---|---|
| What are the 4 Factors of Production? | Land, Labour, Capital & Enterprise |
| What is the Land Factor? | The natural resources used to provide a good or service |
| What is the Labour Factor? | The workforce used to produce a product or provide a service |
| What is the Capital Factor? | The man made resources that are needed to produce a product |
| What is the Enterprise Factor? | The idea that the owner had to create a business, and how the 3 other factors were used to provide a good or service |