Identifying Factors Of Production
James is considering opening a new chain of fast-food restaurants. He plans to establish affordable dining options and hopes to develop a franchise. To implement his idea, he must rent commercial space and secure at least $16,000,000 in startup funding. Why does this scenario illustrate the use of factors of production?
A
Because he will need to rent land
B
All of the answers are correct.
C
Because he demonstrates entrepreneurial instincts and ideas
D
Because he will invest $16,000,000, which represents capital