Question
State five uses of capital as a factor of production
Answers
GPT 3.5
1. Purchase of machinery and equipment to enhance production processes.
2. Investment in technology and research and development to improve efficiency and productivity.
3. Acquisition of land and buildings for establishing production facilities.
4. Recruitment and training of skilled labor to operate and manage production operations.
5. Funding of advertising and marketing campaigns to promote products and increase sales.
2. Investment in technology and research and development to improve efficiency and productivity.
3. Acquisition of land and buildings for establishing production facilities.
4. Recruitment and training of skilled labor to operate and manage production operations.
5. Funding of advertising and marketing campaigns to promote products and increase sales.