Question : Which of the following is NOT an example of a factor of production?
Option 1: Land
Option 2: Labor
Option 3: Capital
Option 4: Money
Answer (1)
23rd Jan, 2024
Correct Answer: Money
Solution : The correct answer is (d) Money
Factors of production are the resources or inputs used in the production process to create goods and services. The primary factors of production are land, labor, and capital.
Money is not considered a factor of production. Money serves as a medium of exchange and a store of value, but it does not directly contribute to the production process itself. Instead, it is used to facilitate transactions and as a means of measuring the value of goods and services.
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