The correct answer is (a) money . Money facilitates the production process.
Which of the following is not a factor of production?
Capital is not a factor of production.
Which of the following is not a factor of production a money b human capital C entrepreneurship D land?
The correct answer is (a) money . Money facilitates the production process.
What are the 4 factors of production?
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship . The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land.
What are the 4 factors of production and give examples?
| Land Labor Capital | The physical space and the natural resources in it (examples: water, timber, oil) The people able to transform resources into goods or services available for purchase A company's physical equipment and the money it uses to buy resources |
|---|
What are the 7 factors of production?
= h [7]. In a similar vein, Factors of production include Land and other natural resources, Labour, Factory, Building, Machinery, Tools, Raw Materials and Enterprise [8].
What are the five factors of production?
The factors of production include land, labor, entrepreneurship, and capital .
What is the aim of production class 9?
Aim of Production :-The aim of production is to produce the goods and services to generate wealth that we want for ourselves . There are four requirements needed for the production of goods and services which are land, labour, capital and Human Capital or Entrepreneur.
Is money a factor of production?
While it can be included within capital , which is a factor of production, money does not really produce goods or services.
What are the factors of production class 9?
There are four factors of production i.e. land, labour, physical capital and human capital . The first requirement for production is land.
Which factor of production is most important?
Consequently, entrepreneurship is sometimes considered the most vital factor of production.
What is the main factor of production?
The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment , and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic ...
What are the factors affecting production?
Most economists identify four factors of production . These are land, capital, labour and enterprise. Some economists, however, claim that there is really only three factors of production and that enterprise is a special form of labour.
What are the six factors of production?
- natural resources. everything that is made of natural materials.
- raw materials. any good used in manufactoring other goods.
- labour. all physical and mental work needed to produce goods or services.
- capital. ...
- information. ...
- entrepreneurship.
What are the 4 economic systems?
- Pure Market Economy.
- Pure Command Economy.
- Traditional Economy.
- Mixed Economy.
What are the four factor payments?
Factor prices
Factor payments include rent, wages, interest and profit .
