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14 October, 06:07

Mr. Green is opening a new bakery. He has purchased an industrial oven which can accommodate twenty loaves of bread at a time. This oven represents which factor of production? A) capital B) entrepreneurship C) labor D) land

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  1. 14 October, 09:24
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    Answer: capital

    The land is the factor of production which includes any natural resource used to produce goods and services while Labor is the effort that people contribute to the produce the same ...

    Capital is the machinery, tools, and buildings people use to produce goods and services while an entrepreneur is a person or an innovator who combines all other factors of production - land, labor, and capital - to find new ways to market and earn a profit.

    Given the following definitions, an industrial oven is considered a capital.
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Home » Business » Mr. Green is opening a new bakery. He has purchased an industrial oven which can accommodate twenty loaves of bread at a time. This oven represents which factor of production? A) capital B) entrepreneurship C) labor D) land
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