Practise identifying and applying the four factors of production—land, labour, capital and enterprise—in economic production using CAIE Economics AS questions.
The nature of a typical car assembly plant has changed. The industry has fewer firms, operates on larger sites and has more automated machinery.
How is this change most likely to have affected the relative use of factors of production in the industry?
increased relative use
decreased relative use
capital and enterprise
labour and land
enterprise and labour
land and capital
labour and land
capital and enterprise
land and capital
enterprise and labour
D