What are the four categories of resources?

Choose 1 answer:
(A) Information technology, physical capital, financial capital, and high skilled workers
(B) Forest, minerals, ocean, and energy resources
(C) High skilled workers, low skilled workers, knowledge workers, and service sector workers
(D) Land resources, labor, capital goods, and entrepreneurship
(E) Machines, technology, minerals, and energy resources

Question

What are the four categories of resources?

Choose 1 answer:
(A) Information technology, physical capital, financial capital, and high skilled workers
(B) Forest, minerals, ocean, and energy resources
(C) High skilled workers, low skilled workers, knowledge workers, and service sector workers
(D) Land resources, labor, capital goods, and entrepreneurship
(E) Machines, technology, minerals, and energy resources

Accepted Answer

***D*** ∻Key Concept∻ ⚹Factors of Production⚹ ∻Explanation∻ ⚹In macroeconomics, the four categories of resources, also known as factors of production, are land, labor, capital, and entrepreneurship. These are the inputs used to produce goods and services in an economy.⚹◊What role do land resources, labor, capital goods, and entrepreneurship play in the production process according to macroeconomic principles?⍭ Generate me a similar question◊

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