Question

Economic resources are also called

A.free gifts of nature.
B.consumption goods.
C.units of money capital.
D. factors of production

Answer 1

Factors of production are the resources needed to produce goods and services in an economy, including land, labor, capital, and entrepreneurship.

Step-by-step explanation:

Factors of production are the resources needed to produce goods and services in an economy. They include land, labor, capital, and entrepreneurship. These factors make production possible, and the use or misuse of any one of them can impact the economy. For example, land is a natural resource that provides the space for production, labor refers to the human effort put into production, capital includes the tools, machinery, and infrastructure used in production, and entrepreneurship involves the ability to innovate and take risks in starting and managing a business.