Capital Goods Definition, Examples and Effect on Economy – Aug 26, 2014 … Capital goods are the machinery, equipment and buildings used by businesses to create supply. Land Earth’s natural resources - everything in the earth or sea. Explanation. Entrepreneurs are the people who combine the other factors of production – land, labor and capital – to generate profit. My labor was myself and my brother Doug. Money. At this price it does not have any enticement to look for employment anywhere else. The factors of production include land, labor, capital and entrepreneurship. We cut the wood and shaped it into rods. Which of the following is true according to the marginal productivity theory of income distribution? Land Labor Capital Entrepreneurship The land I need is trees and metal ore because they are natural resources. Mcq Added by: admin. Show transcribed image text. Land, Labor, Capital and Entrepreneurship. … Natural resources, such as land. households supply land, labor, capital, and entrepreneurship through the work that the do for firms. The correct answer is False. The factors of production include: Output in a production function. Entrepreneurship, which is the drive to create new companies. We did all the work of putting them together. Factors of production, i.e., land, labor, capital, and entrepreneurs are in equilibrium when they are paid the maximum possible so as maximize the income. importance: Without labor, the goods and services would not be executed. It allows mass production. Then we drilled holes into the wood to insert the graphite. Land labor capital and entrepreneurship are called_____? Land, labor, capital, and entrepreneurship are the A) basis of employment. Labor, such as workers. Land represents all natural resources, such as timber and gold, used in the production of a good. The capital is all of the tools and machinery used to produce a good or service. entrepreneur Land labor capital and entrepreneurship are called_____? Every factor of production is paid its equilibrium value of the marginal product. C) factors of production. While labor is … Here the Price = Marginal Revenue Product. In economics, factor payments are the income people receive for supplying the factors of production: land, labor, capital or entrepreneurship.. Payments made of scarce resources, or the factors of production in return for productive services. Without people working to make these goods, goods cannot be produced for profit, Labor is essential in creating any kind of product. A. raw materials B. impetus to upward mobility C. factors of production D. external devices. See the answer. How Frito-Lay makes potato chips . You can think back to McDonald's franchiser Ray … D) results of supply and - 2889466 This problem has been solved! The factors of production include land, labor, capital and entrepreneurship. [clarification needed] They are also categorized according to the services of the productive resources being rewarded. Land, Labor, Capital, And Entrepreneurship. Expert Answer 100% (2 ratings) Previous question Next question Transcribed Image Text from this Question. B) results of production. Feb 10, 2014 … Production has four factors, which are land, labor, capital, and entrepreneurship. relates to: land, capital, human capital. Profit. Used as the raw material for making goods and creating services.