The factor of production which takes the initiative in combining resources for production is known...
ECONOMICS
WAEC 2012
The factor of production which takes the initiative in combining resources for production is known as
- A. capital
- B. land
- C. entrepreneur
- D. labour
Correct Answer: C. entrepreneur
Explanation
An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *