The factors of production involved in this activity, apart from labor, are:

1. Land: This refers to the physical space where the sandwiches are made and sold. It could be a cafe, a food truck, or a kitchen.

2. Capital: This includes the tools and machinery used to make the sandwiches, such as knives, cutting boards, ovens, and refrigerators. It also includes the money used to buy these tools and to pay for utilities like electricity and water.

3. Entrepreneurship: This is the initiative and risk-taking ability of the business person. They organize the other factors of production and make decisions about what kind of sandwiches to make, how many to produce, and how to market and sell them.

4. Raw Materials: These are the ingredients used to make the sandwiches, such as bread, meat, vegetables, and condiments.

Question

The factors of production involved in this activity, apart from labor, are:

1. Land: This refers to the physical space where the sandwiches are made and sold. It could be a cafe, a food truck, or a kitchen.

2. Capital: This includes the tools and machinery used to make the sandwiches, such as knives, cutting boards, ovens, and refrigerators. It also includes the money used to buy these tools and to pay for utilities like electricity and water.

3. Entrepreneurship: This is the initiative and risk-taking ability of the business person. They organize the other factors of production and make decisions about what kind of sandwiches to make, how many to produce, and how to market and sell them.

4. Raw Materials: These are the ingredients used to make the sandwiches, such as bread, meat, vegetables, and condiments.

Knowee AI · Accepted Answer

The factors of production involved in this activity, apart from labor, are:

1. Land: This refers to the physical space where the sandwiches are made and sold. It could be a cafe, a food truck, or a kitchen.

2. Capital: This includes the tools and machinery used to make the sandwiches, such as knives, cutting boards, ovens, and refrigerators. It also includes the money used to buy these tools and to pay for utilities like electricity and water.

3. Entrepreneurship: This is the initiative and risk-taking ability of the business person. They organize the other factors of production and make decisions about what kind of sandwiches to make, how many to produce, and how to market and sell them.

4. Raw Materials: These are the ingredients used to make the sandwiches, such as bread, meat, vegetables, and condiments.

A business person employs two people to make sandwiches to sell in a cafe. As well as labour, which factors of production are involved in this activity?

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