As a business owner, Laura recognizes she needs to be knowledgeable about both her particular business as well as the market and economic data surrounding her business. Because of this, Laura has worked hard to develop a specialized knowledge and expertise about her business over the years, utilizing the factor of production known as:

Question

(1 point)
Responses

entrepreneurship.
entrepreneurship.

information resources.
information resources.

natural resources.
natural resources.

labor.

Answer 1

The correct answer is entrepreneurship.

Entrepreneurship refers to the skills, knowledge, and expertise that a business owner develops to effectively manage and grow their business. Laura's efforts to gain specialized knowledge about her business and the market demonstrate her entrepreneurial abilities.