Janice decides to produce and sell clothing. She leases retail space at a strip mall from James and renovates her guest bedroom into a sewing room with new sewing machines. She also imports cloth
and dye from Thailand to help create some original designs. Janice hires five of her friends to help - Kiera, Sarah, Carlos, Kevin, and Chanice. Kiera and Kevin will sew the new designs while Carlos, Sarah, and Chanice will help run the store. Which factor of production does Janice represent?

O land
O labor
O capital
O entrepreneurship

Question

12-08-2022
English

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Janice decides to produce and sell clothing. She leases retail space at a strip mall from James and renovates her guest bedroom into a sewing room with new sewing machines. She also imports cloth
and dye from Thailand to help create some original designs. Janice hires five of her friends to help - Kiera, Sarah, Carlos, Kevin, and Chanice. Kiera and Kevin will sew the new designs while Carlos, Sarah, and Chanice will help run the store. Which factor of production does Janice represent?

O land
O labor
O capital
O entrepreneurship

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anamta123ahmed anamta123ahmed · Answer 1 · 2022-08-20T11:56:03+02:00

Janice represents entrepreneurship among all factors of production.

Janice is the only one who came up with the idea of putting in the enterprise and she is the one who will take all the risks here. For this reason, she represents entrepreneurship.

Factors of production are resources that are the constructing blocks of the economy; they're what people use to supply items and offerings. Economists divide the factors of manufacturing into 4 categories: land, hard work, capital, and entrepreneurship.

The factors of production are sources had to create a product in production or production industries. They usually include land, exertions, capital goods, and entrepreneurship. Entrepreneurship is a component of manufacturing that could contain all other factors and is generally taken into consideration as crucial for enhancing economies.

Learn more about entrepreneurship here brainly.com/question/1027717

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