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Why are all four factors (Land, Labour, Capital, Entrepreneurship) important?

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Question

Why are all four factors (Land, Labour, Capital, Entrepreneurship) important?

Options

  • Only two are needed for production

  • They work separately to create goods and services

  • They work together and are all needed to make goods and services

  • Only Labour and Capital are important

MCQ
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Solution

They work together and are all needed to make goods and services

Explanation:

All four factors must work together for any production to happen.

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