Question

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? Group of answer choices land labor capital entrepreneurship

Answer 1

Janice represents the factor of production known as entrepreneurship

What is factor of  production?

Factors of production refers to resources human or materials required for the production process to be successful.

In other words, the factors of production are land, labor, capital and entrepreneurship.

In this case, land implies the space leased and the store

The labor are the five friends that Janice hired to help create the original designs of the clothing ,whereas, the capital are the funds used in acquiring assets and paying for importation of materials.

Without mincing words, the fact that Janice organizes and arranges other factors of productions means that Janice is an entrepreneurship.

Find out more about factors of production on:https://brainly.com/question/16755022

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