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Which statement about factors of production is the most accurate?

A. Each of the factors of production is equally important in creating wealth.
B. The five factors of production are energy, capital, labor, leadership, and money.
C. Entrepreneurship and knowledge are the most important in creating wealth.
D. Wealth creation in poor nations is slowed by chronic shortages of labor.



Answer :

GinnyAnswer

Final answer:

Entrepreneurship and knowledge are pivotal in creating wealth as they drive innovation and productivity.


Explanation:

Entrepreneurship and knowledge are the most important factors in creating wealth. While all factors play a role, entrepreneurship involves taking risks, innovating, and organizing resources, which are crucial for economic growth. Knowledge, in terms of human capital and technological advancements, drives productivity and innovation, leading to wealth creation.


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