example: johnny has a mobile car wash. Capital= the vehicle used to pull the car
ID: 1135971 • Letter: E
Question
example: johnny has a mobile car wash.Capital= the vehicle used to pull the car wash equipment and the equipment itself. Labor= Johnny’s and anyone he may hire to help Land= the water Entrepreneurship= johnny is providing it as he has purchased the capital and is risking this investment to create a business. GnnIENIINFORMATION Points Possible 10 will submit this assignment using the Text Submission box that appears when you click on the Write Submission submission section. To avoid timing out the system, it is strongly suggested that you complete this assi processor (such as MS Word, OpenOffice. org. MS WordPad, etc) first and then copy and paste the completed assigg When ready, click the Submit button to submit your assignment for grading Submit your answer to the following question by entering your answer only into the textbox provided. Answer briefly but con Factors of production: Pick a good or service and describe how each of the factors of production is present in that good or s Example: Johnny has a mobile car wash Capital the vehicle used to pull the car wash equipment and the equipment itself Labor Johnny's and anyone he may hire to help Land the water Entrepreneurship 9Shnny is providing it as he has purchased the capital and is risking this investment to create a busines ASSIGNMENT SUBMISSION Text Submission Write Submission Attach Files When finished, make sure to click Submit Browse My Computer Browse Content Collection
Explanation / Answer
Ans:
1. Mathew is a wheat producer.
Capital: The tractor used to plow the soil, and the harvester vehicle. The building used to store the wheat.
Labour: Mathew's and labour other workers.
Land: soil, river.
Entrepreneurship: Mathew has purchased the land, vehicles and the machinery to do the farming and bear the risk of investment.
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