Quick Answer: Which Of The Following Is Not An Example Of Factor Of Production?

Is knowledge a factor of production?

Knowledge has become a key factor of production and it heavily affects the returns of Capital, Labor and Land..

Which option is an example of capital as a factor of production?

Capital is a factor of production that has been produced for use in the production of other goods and services. Office buildings, machinery, and tools are examples of capital. Natural resources are the resources of nature that can be used for the production of goods and services.

Which of the following is not a factor of production?

Goods and services are not factors of production. Factors of production are inputs that are needed to provide goods or services. They include, land, labor, capital, and entrepreneurship.

Which of the following is an example of factor of production?

The factors of production are land, labor, capital, and entrepreneurship. Land earns rent; labor earns wages capital earns interest; and entrepreneurship earns profit or incurs a loss.

What are the 4 factors of production and give an example of each?

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 5 factors of production?

Factors of Production Definition The factors of production are land, labor, capital, and entrepreneurship.