You asked: What 3 resources do entrepreneurs bring together to produce goods and services?

What are the 3 resources needed by businesses to produce goods and services?

4 Key Resources – The four basic kinds of resources used to produce goods and services: land or natural resources, labor or human resources, capital, and entrepreneurship.

What three basic resources do entrepreneurs decide to combine new goods and services?

Though the number and variety of the different resources businesses require is limitless, economists divide the factors of production into three basic categories: land, labor, and capital. Land refers to all of the natural resources that businesses need to make and distribute goods and services.

What are the 3 productive resources?

There are three basic productive resources: natural resources, human resources, and capital resources.

What are entrepreneur resources?

Entrepreneurial resources are defined as the propensity of an individual to behave creatively, act with foresight, use intuition, and be alert to new opportunities.

What are the 3 factors of production and give an example of each?

Three factors of production are labor, land and capital. … For example, land includes different resources, products that could be found in nature (like water, oil, etc.) but also fertile land that is being used for agriculture. Capital is a resource that is required for creating goods and services which is human made.

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What are the 3 main factors of production quizlet?

The main factors of production are land, labor, and capital.

Are the resources needed to produce goods and services?

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.