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Resources harnessed in certain proportion to create goods and services are?

Commerce
JAMB 2009

Resources harnessed in certain proportion to create goods and services are?

  • A. factors of production
  • B. technology and labour
  • C. land and entrepreneur
  • D. raw materials
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Correct Answer: Option A
Explanation

The factors of production are resources that people use to produce goods and services. They include land, labor, capital, and entrepreneurship.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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