Economics · Factors of Production
Given below are two statements: Assertion (A): Land and labor are considered primary factors of production. Reason (R): Organization/entrepreneurship is a specialized form of human labor. Select the correct code:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is incorrect, but (R) is correct.
- 2(A) is correct, but (R) is incorrect.
- 3Both (A) and (R) are true, and (R) is the correct explanation of (A).
- 4Both (A) and (R) are true, but (R) is NOT the correct explanation of (A).✓
Correct answer
Both (A) and (R) are true, but (R) is NOT the correct explanation of (A).
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