The four major categories of factors of production are:
A) technology, law, capital, and ingenuity.
B) natural resources, capital, human resources, and entrepreneurship.
C) economic power, money, technology, and agriculture.
D) knowledge, human resources, capital, and technology.

Question

Quizplus · Accepted Answer

The four major categories of factors of production are natural resources (such as land, water, and minerals), capital (such as buildings, equipment, and money), human resources (such as labor and knowledge), and entrepreneurship (which combines the other three factors to create new products or services). Choices A, C, and D are incorrect because they do not include all four categories and/or include irrelevant factors.

The Four Major Categories of Factors of Production Are