Question

Why are the factors of production important to economics?

A-They are not important and economic growth can still occur without them

B-They are the resources that we are able to get from the land

C-they provide everything a persons needs to everyone in the world

D-They are the building blocks of the economy and are what people use to produce goods and services

Answer 1

D

Step-by-step explanation:

The factors of production are the resources used in creating and producing a good or service and are the building blocks of an economy. The factors of production are land, labor, capital, and entrepreneurship, which are seamlessly interwoven together to create economic growth.

Answer 2

D. They are the building blocks of the economy and are what people use to produce goods and services

Step-by-step explanation:

(I took both AP microeconomics and AP macroeconomics)