Greg recently completed his college degree in construction management.He is heading to Mexico City to start a business developing apartment dwellings.After researching several potential areas,he chose Mexico City due to its high population.Greg felt that this factor would create a large labor pool,the most important of the five factors of production.

Question

Quizplus · Accepted Answer

The most important factor of production is typically considered to be capital or entrepreneurship, not labor. Labor is one of the factors, but not necessarily the most important.

Greg Recently Completed His College Degree in Construction Management