Which of the following is not a factor of production?
A. Land
B. Capital
C. Labor
D. Goods and Services
D?
Yes, D.
en.wikipedia. org/wiki/Factors_of_production
Thanks
This helped
awesomesauce! Thanks guys :)
To determine which of the following is not a factor of production, we need to understand what factors of production are. Factors of production are the resources that are used in the production process to produce goods and services. The main factors of production are land, capital, and labor.
Land refers to all natural resources, such as rivers, forests, minerals, and arable land, that are used in the production of goods and services.
Capital refers to physical assets used in production, such as machinery, buildings, tools, and equipment.
Labor refers to the human effort that is used in the production process, including the physical and mental work done by workers.
Goods and services, on the other hand, are the final output of the production process, the products that are produced using land, capital, and labor.
Therefore, the correct answer is D. Goods and services are not considered factors of production; they are the end result of the production process.