Question

Which country that has all four factors of production but is not developed and prosperous, or if you can think of a country that is wealthy and prosperous but is missing one of the four factors of production

Answer 1

The correct answer is The emerging countries

Explanation: A company's demand for factors of production is a derived demand, that is, it depends on the demand for that company's product. The market for factors of production can operate in perfect competition, monopoly, monopoly or oligopoly competition, like the market for goods and services.

The four factors of production are:

a) labor

b) raw material

c) capital

d) technology