As a business owner, Laura recognizes she neeeds to be knowledgeable abotu both her particular business as well as the makret 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 knwon as: entrepreneurship, information resources, natural resources, or labor

Answer 1

Laura has developed a specialized knowledge and expertise about her business by utilizing the factor of production known as entrepreneurship. Entrepreneurship involves the ability to combine various resources, including information and labor, to create and manage a business. It reflects her initiative, creativity, and willingness to take on risks in understanding her market and economic environment.