Question

Approximately 200 people are working on developing a new community just outside a major city. Unlike other communities in the area, the development will feature innovative amenities such as solar powered houses, bike paths, and small, locally owned stores. The decision to include these amenities is an example of which factor of production? ( the subject is economics )

capital
entrepreneurship
labor
land

Answer 1

Hello,

Approximately 200 people are working on developing a new community just outside a major city. Unlike other communities in the area, the development will feature innovative amenities such as solar powered houses, bike paths, and small, locally owned stores. The decision to include these amenities is an example of labour.

Knowing that this real-world problem is linked to economics, we can state the fact that labour economics is the study of the labour force as an element in the process of production. This makes the third option correct.

Faith xoxo