What factor of production include human made resources used to produce a good or a service

Question

Dominick Chandler

Business

11 September, 17:44

What factor of production include human made resources used to produce a good or a service

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Answers (2)

Know the Answer?

Milo Shaffer · Answer 1

Answer

Capital

Explanation

Capital as a factor of production consists of tangible and intangible goods which are produced in the environment and utilized as inputs to further produce more goods and services. Human made resource such as money/wealth is used to produce more wealth by facilitating buying of capital equipment which aid in process of economic development.

Fury · Answer 2

Human made factor of production is Capital.

Explanation:

There are four factors of production. Land, Labor, Capital and Entrepreneurship. Factor of production are the inputs of an organization that are used to produce the output and profits for the organization.

Capital is the money, which is generated by humans. So this factor of production is the one human made resource that is used to produce goods and services for the company.