11
QuizMultiple Select

Competition and Free Enterprise — Unit test

Question 11 • 2102320-Economics HONORS - Edgenuity Teacher

What are the basic types of resources used by producers? Choose three answers.capitallaborvaluescarcityland

Answer
c
capital
l
labor
v
value
s
scarcity
l
land

Explanation

Producers use resources called factors of production to make goods and services. The basic types are capital, labor, and land. Value and scarcity are economic concepts, not resource types used by producers.

AI-written and checked against the verified answer.

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