Question

Which is considered to be an economic resource by economists?

A. Rent
B. Money
C. labor

Answer 1

C. labor

Step-by-step explanation:

there are four economic resources or factors of production. They are :

1. Land are natural resources used to produce goods and services e.g. gold mine

2. Labor is the effort used by people in the production of goods and services.

3. Capital includes machinery and man made resources used in production e.g. hammer

4. An entrepreneur is a person who combines the other factors of production together