Final answer:
The factors of production required by a jewelry shop to operate its business are land, labor, capital, and entrepreneurship.
Step-by-step explanation:
The factors of production required by a jewelry shop to operate its business are land, labor, capital, and entrepreneurship. Land refers to the physical location of the shop, labor includes the employees who work in the shop, capital refers to the financial resources needed to purchase inventory and equipment, and entrepreneurship represents the management and decision-making skills of the shop owners.
For example, the land where the shop is located provides a space for displaying and selling jewelry. The employees are responsible for tasks such as customer service, jewelry design, and inventory management. The capital is used to purchase jewelry, showcases, and other equipment, while entrepreneurship drives the overall strategy and success of the shop.