Multiple Choice
Which of the following is a factor that increases the volatility of demand in industrial markets?
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0. Basic Principles of Economics
Factors of Production
Multiple Choice
Which of the following factors of production includes internet and transport network infrastructures?
A
Labor
B
Land
C
Entrepreneurship
D
Capital
Verified step by step guidance1
Understand the definition of the factors of production: Labor refers to human effort, Land includes natural resources, Entrepreneurship involves organizing and managing production, and Capital consists of man-made resources used in production.
Identify what internet and transport network infrastructures represent: these are man-made tools and systems that facilitate production and distribution.
Recognize that since internet and transport networks are created by humans and used to produce goods and services, they fall under Capital rather than natural resources or human effort.
Recall that Capital includes physical assets like machinery, buildings, and infrastructure that aid production, which matches the description of internet and transport networks.
Conclude that the correct factor of production for internet and transport network infrastructures is Capital.
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