Which of the following statements about factors of production is the most accurate?
A)The five factors of production are energy, capital, labor, leadership and money.
B) Wealth creation in poor nations is slowed by chronic shortages of labor.
C) Each of the factors of production is equally important in creating wealth.
D)Entrepreneurship and knowledge are the most important in creating wealth.

Question

Quizplus · Accepted Answer

While all of the factors of production listed in answer A play a role in creating wealth, entrepreneurship and knowledge are generally considered the most important for driving innovation and productivity. Answer B is not entirely accurate as there are many other factors that contribute to wealth creation in poor nations beyond just labor shortages. Answer C is also inaccurate as some factors of production may be more important than others depending on the specific industry or business in question.

Which of the Following Statements About Factors of Production Is