which one of the following choices is not one of the four factors of production?
land
capital
enterprise
marketing
Capital is the workforce in the economy
entrepreneurs are people who work for a business.
what is working capital?
this refers to the stocks of raw materials and components that will be used up in production.
this refers to the factories, offices, shops, machines, tools, equipment and furniture used in production.
specialisation- in businesses, the production of a limited range of goods.
labour- intensive production is...
production methods that make more use of machinery relative to labour.
production methods that make more use of labour relative to machinery.
production method that only uses animals.
Castiel wants to start up his own charitable business, what 4 skills does he need to become and entrepreneur ?
friendly
risk- taker
strict
decision maker
organiser
charitable
innovator
division of labour- specialisation in specific tasks or skills by an individual.
machinery is...
fixed capital
working capital
which of the following would make businesses more capital- intensive in production?
can't be bothered to hire people
rapid advances in technology
the business has too much money and doesn't know what to do with it
more large-scale production
