jayden16dejesus jayden16dejesus

27-05-2020
Social Studies

contestada

What are the three factors of production in an economic system? Which factor is the basis for the American economic system?

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nusratjahanmim nusratjahanmim

06-06-2020

Answer:

There are three basic resources or factors of production: land, labour and capital. The United States has a capitalistic system.

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ogorwyne ogorwyne

12-05-2022

The three factors of production in the United States are:

Land
Labor
Capital

What is the factor that is the basis of the US economic system?

The United States of America is known to have a capitalist system. This is the fact that people are allowed to own businesses and also manage their businesses themselves.

Private individuals own the means of production and they are able to freely set prices.

Read more on the capitalist system here: https://brainly.com/question/25879591

#SPJ2

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