Which factor of production refers to the goods and services used to create other goods and services?(1 point)

Question

Responses

economic capital
economic capital

labor
labor

physical capital
physical capital

production capital

Answer 1

The factor of production that refers to the goods and services used to create other goods and services is economic capital. However, it's often specifically referred to as physical capital in economics, which includes tools, buildings, and machinery used in production.

If you are choosing from the responses provided, physical capital would be the most appropriate answer.