When we compare the factors of production in wealthy versus poor nations, we find
A) poor nations have plenty of land and knowledge, but very little labor.
B) poor and wealthy nations (both) have an abundance of knowledge; it is the land that varies, with rich nations always having more.
C) wealthy nations have knowledge and entrepreneurial opportunities, while poor nations are often lacking in these areas.
D) wealthy nations have land and labor, while poor nations have capital and entrepreneurship.

Question

Quizplus · Accepted Answer

The factors of production known as knowledge and entrepreneurship contribute toward a nation's opportunity to innovate and create new products and services. Entrepreneurs use their knowledge to grow their businesses and increase wealth.

When We Compare the Factors of Production in Wealthy Versus