Which term refers to unprocessed natural resources that are refined into end products?

• A. Labor
• B. Capital
• C. Raw materials
• D. Entrepreneurship

Answer: (C)

Verified step by step guidance

1. Understand the definitions of the key terms in the problem: Labor, Capital, Raw materials, and Entrepreneurship.
2. Labor refers to the human effort used in production, such as work done by employees or workers.
3. Capital refers to man-made goods used to produce other goods and services, like machinery, tools, and buildings.
4. Raw materials are unprocessed natural resources that are extracted or harvested from the environment and then refined or transformed into finished products.
5. Entrepreneurship is the ability to organize the other factors of production and take risks to create goods or services.
6. Since the question asks for unprocessed natural resources refined into end products, the correct term is Raw materials.