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Select the correct answer.
What are factors of production?
A.
all the human efforts involved in the production process
B. all the resources used to produce any goods and services
C.
all the physical tools and equipment used in the production process
D.
all the naturally occurring resources found in land, air, and water
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Answer:

I think the answer is /B/ all the resources used to produce any goods and services

Explanation:

The correct option is B. All the resources used to produce any goods and services are factors of production.

Why land is a factor of Production?

The land is a production element that is strictly fixed. No amount of human strength can change the amount of land that already exists. Therefore, no amount of alteration in demand will alter the availability of land.

Thus, An essential economic concept called the factors of production describes the components required to create a thing or service that can be sold. They can be divided into four categories: entrepreneurship, capital, labor, and land.

Learn more about Factors of Production here:

https://brainly.com/question/988852

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