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Q: The inputs used in the production of goods or services to make an economic profit are known as ………. .
  • A. factors of production
  • B. factors of supply
  • C. factors of presentation
  • D. factors of sales
Correct Answer: Option A - The inputs used in the production of goods and services to make an economic profit are known as factors of production. Factors of production are inputs used in the production of goods or services to make an economic profit. These include any resource needed for the production or creation of a goods or service. The factors of production are land, labour, capital and entrepreneurship.
A. The inputs used in the production of goods and services to make an economic profit are known as factors of production. Factors of production are inputs used in the production of goods or services to make an economic profit. These include any resource needed for the production or creation of a goods or service. The factors of production are land, labour, capital and entrepreneurship.

Explanations:

The inputs used in the production of goods and services to make an economic profit are known as factors of production. Factors of production are inputs used in the production of goods or services to make an economic profit. These include any resource needed for the production or creation of a goods or service. The factors of production are land, labour, capital and entrepreneurship.