According to economic theory, there are four main factors of production - land, labour, capital, and entrepreneurship. They are the starting point of the production process. Search for an answer or ask Weegy. Anything that helps in production is the factor of production. Economics Mcqs for test Preparation from Basic to Advance. Which of the following is not a factor of production? Capital B. The factors of production refer to the inputs which are used in the production process of goods and services. Goods and Services C. Land D. Labor. A. labor B. land C. money D. capital. Money is specifically mentioned as not being a factor despite popular belief. s. Log in for more information. Goods and Services is not a factor of production. Which of the following is not a factor of production ? Censorship of the press was not only a problem in Nazi Germany, it also occurred in the fascist state of Italy. Factors of Production. Updated 79 days ago|10/8/2020 10:24:05 PM. Land is Immovable: It cannot be transported from one place to another. A. the amount of money required to buy a car B. the training required to repair an airplane engine C. the teacher required to teach an economics class D. the land required for a hog farm Rating. The Federal Reserve Bank of St. Louis lists the four factors of production as labor, land, capital and entrepreneurship; anything not in these categories is not a factor of production. Get an answer. Labour is an active factor but land is a passive factor of production. All of these factors also earn income in one form or another. All other options are factors of production. Updated 2/1/2014 8:39:12 PM. 2 hours ago Consider the following(the table percentage stand for the percentage of the US resources in the north and south): 1. 1 Answer/Comment. 5. They are the inputs for the process of production. A Cobb-Douglas production function for new company is given by f(x,y) 50x 2 5 y 3 5 where x represents the units of labor and y represents the units of capital. Question 11 Which of the following is NOT a factor of production? Land is a Passive Factor of Production: This is because it cannot produce anything by itself. To grow wheat, man has to cultivate land. A. These are the various factors by mean any resource is transformed into a more useful commodity or service. Asked 3/10/2018 10:21:37 PM. Selected Answer: C. entrepreneurs Answers: A. labor B. government C. entrepreneurs D. capital 0.05 out of 0.05 points 0.05 out of 0.05 points 0 out of 0.05 points Mcq Added by: Adden wafa. 3. emdjay23. For example, wheat cannot grow on a piece of land automatically. In the given options, first three are the factors of production while the fourth option of Product is not the main factor of production. Question. s. Log in for more information. 6. A. Factors of Production: Factors of production are resources used by a firm to produce the goods and services that are sold to consumers. Application of Economics Application of Economics Economics Mcqs. Which of the following is not a factor of production? Which factor best accounts for the price change in the Model T automobile? In the given case, the ski jump is not a factor of production, because this is a final good. Register Now. Goods and Services is not a factor of production. Asked 2/1/2014 8:23:25 PM. B. Economics. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Morbi adipiscing gravdio, sit amet suscipit risus ultrices eu.Fusce viverra neque at purus laoreet … 1 Answer/Comment. Low deman B. Orginized labor C. Mass production D. wartime inflation . Question. New answers.

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