Question

Give an example of a business that you can create with examples of Land, Labor, Capital, Entrepreneurship, and Technology

Answer 1

Hello there!

Actually, most companies use all factors of production.

For example, Ford is a famous automobile company. It uses land to build industries for production. It uses labour to produce the technology needed for production of cars. It uses capital as all the machineries and car parts. It used entrepreneurship by making new models of cars.

Hope this helped!