What are the components of the acronym "CELL" in relation to factors of productivity?

The correct answer identifies the fundamental components that are part of the production process in economics. The acronym "CELL" stands for Capital, Entrepreneurial Profit, Land, and Labor.

Capital refers to the tools, machinery, and plants used in the production of goods and services. Entrepreneurial Profit represents the returns that entrepreneurs expect to earn for their risk-taking and management of other resources. Land is the natural resources and space utilized in production, while Labor encompasses the human effort—both physical and mental—put into the production process.

Each of these elements plays a crucial role in determining the overall productivity and efficiency of an economic system. The integration of these factors enables businesses to create goods and services efficiently, thereby contributing to economic growth. Understanding this acronym is essential for comprehending basic economic principles related to production and productivity.