Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter 1.2, Problem 7TP
Summary Introduction

To determine: The five factors of production and examine the most important factor of production to create wealth.

Introduction:

Factors of production refers to the various inputs required in the production process in an organization. These are mainly the resources that help in the creation of various goods and services delivered.

Blurred answer
Students have asked these similar questions
does wealth maximiztion reflect efficient society’s economic resources  use
What is the true meaning of WEALTH?
Does technology provide more upsides or downsides for our economy?
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning