Peter Drucker’s Key Factor of Production

Question:

Management expert Peter Drucker said the most important factor of production in our economy is, and always will be.

A) knowledge.

B) land.

C) capital.

D) taxes.

Answer:

Peter Drucker, a renowned management expert, emphasized that the most important factor of production in our economy is knowledge. Drucker argued that in the modern economy, knowledge is the key driver of productivity and economic growth, surpassing traditional factors like land, capital, and even taxes.