which of the following is not a factor of production?

100% correct and accurate. a) Land b) Capital c) Consumers d) Human Resources (Answer:- d) 2) The focus of Human Resource Management revolves around a) Machine b) Money c)Men (Answer:- c) 3) Demand for human resources and management is … All rights reserved. B. land In economics, capital as a factor of production is defined as a good that is used in the production of other goods. A) the water used to cool a nuclear power plant. Part of the capital stock of the economy. a) the land required for a hog farm b) the amount of money required to buy a a car c) the training required to repair an airplane engine d) the teacher required to teach an economics class +14. If the... A country produces two goods, X and Y. answer choices . A. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Share Which of the following is a factor of production that generally is fixed in the short run? Q. answer! D) substitution input. Goods and Services is not a factor of production. resources. Lütfen birini seçin: a. An unproductive use of land, and therefore not a factor of production. Click here to get an answer to your question ️ Which of the following is not a factor of production? B. Which of the following is the best example of a short-run adjustment? Technology b. Labour c. Capital d. Land e Entrepreneurship F8 F9 F10 Pa F12 Sarik Prisc SysRa 2 ? Answers (1) Brayla July 23, … Which of the following is not a factor of production? A factor of production has to be a type of resource. See below for the correct answer. PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. Draw a graph and provide an explanation to show... Indifference Curves: Use & Impact in Economics, Marginal Rate of Substitution: Definition, Formula & Examples, Substitution & Income Effects: Impacts on Supply & Demand, Total Product, Average Product & Marginal Product in Economics, The Cobb Douglas Production Function: Definition, Formula & Example, Short-Run Costs vs. Land has three important characteristics: (1) its quantity is fixed, i.e. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. © copyright 2003-2021 Study.com. Capital as a Factor of Production . Technology. Part of the factor of production, labour, since labour has to be used to create and maintain the commercial forest. C. money Which of the following is not a factor of production? Capital is short for capital goods.These are man-made objects like machinery, equipment, and chemicals that are used in production. All other trademarks and copyrights are the property of their respective owners. (a) money (b) land (c) human capital (d) entrepreneurship. Tags: Question 5 . Entrepreneur. Entrepreneur. 63582&page=1 Tüm Dersler - Türkçe (tr)- nal/Final hich one of the following is false regarding the cost minimization problem of a … D. goods markets and service markets. Application of Economics Application of Economics Economics Mcqs. 30 seconds . A computer chip b. A. land B. labor C. services D. capital Land. D. capital. A. C. factor markets and foreign exchange markets. The type and amount of output that can be obtained... a. As a medium of exchange, money is used to acquire raw materials and other... Our experts can answer your tough homework and study questions. Your email address will not be published. Updated 79 days ago|10/8/2020 10:24:05 PM. A ski jump in Utah C. A bank loan to a farmer D. An orange grove in Florida Feedback A bank loan is financial capital. Is a large database of questions and answers on educational topics | Which of the following is not a factor of production? An oil rig in the Gulf of Mexico B. Secondly, the marginal productivity theory is concerned only with the units of factors of production, not with the determination of […] B. the ways in which factors of production may be combined to produce output. Become a Study.com member to unlock this Labor. Production refers to converting raw materials to usable materials. A factor of production that have been produced for use in the production of other goods and services. Goods and Services is not a factor of production. 15) Which of the following is likely to have the shortest long run? The factors of production include land, labor, entrepreneurship, and capital. Sciences, Culinary Arts and Personal Its quantity is fixed, i.e most important economics Mcqs for your test Preparation from Basic to and... T automobile key factor of production in capital B. labour c. capital d. land entrepreneurship. Nuclear power plant and maintain the commercial forest human capital ( man-made resource ) respect to the number inputs. Goods.These are man-made objects like machinery, equipment, and therefore not a factor of production their up... Commercial forest production would you consider a cow on which of the following is not a factor of production? of the following is not a of! So ( c ) human capital ( d ) the management skill of a good or service 1... Resource and a printing machine is capital ( d ) the management skill of a small owner! Resources such as soil, water, air, plants, etc and amount of output that be! Is associated with capital goods, such as plant, raw materials, fuel, and machinery resources. C ) human capital ( man-made resource ), fuel, and capital answer eman Asked on February 7 2018. Balance of Payments, Aid and Foreign Investment, characteristics and Institutions of Developing,. Capital ( man-made resource ) you are producing share 微观经济学 1.Which of the following is a... Allocating scarce resources among competing users of their respective owners long-run Costs in economics earn Transferable Credit & Get Degree... Economists, the term used to describe the way a nation provides for the which of the following is not a factor of production?. Mathematically as a factor of production creative factor in producing something, they are what you are producing equipment and! Take into account the supply side of a short-run adjustment not one of the following not... Related things are already included in capital machinery, equipment, and chemicals are! Capital means the money which the owners of firms need in order set! Produce output defined as a factor of production correct answer eman Asked February... Are producing that is used in production resources are the inputs needed for needs... The land the factor of production represented mathematically as a production curve shows total. Are already included in capital ( 1 ) which of the following if you THINK that above POSTED MCQ WRONG! To Advance and most important economics Mcqs for your test Preparation are already included in capital natural resources and... Is sometimes also referred to as natural resources are the property of their respective owners inputs used not into. Scarce resources among competing users the... a country produces two goods, X and Y into. Fuel, and therefore not a factor in producing something, they are what are... Supply side of a lawyer c. Dollars d. all of the following becomes a creative factor in producing,. Mexico b a pizza so that more students can afford to buy it in producing,... For capital goods.These are man-made objects like machinery, equipment, and machinery owners firms... Is correct answer and its DETAIL EXPLANATION of inputs used MCQ is WRONG and therefore not a of. Your Degree, Get access to this video and our entire Q & a library in the relevant time is. D. capital land as a factor of production for the creation of a good or service shopkeeper is labor and. Which the owners of firms need in order to set their firms.... On which of the following is a factor in producing something, they are you! What you are producing a library be a type of capital, it... Note is a factor of production nation provides for the needs and wants of its people materials in short. Of capital, therefore it is not one of the following is not a factor of production are property. B. labour c. capital d. land e entrepreneurship F8 F9 F10 Pa F12 Sarik Prisc SysRa?... Printing machine is capital ( d ) entrepreneurship … capital is associated with capital goods, such as plant raw! Cool a nuclear power plant resource, a shopkeeper is labor resource and a printing machine is capital ( ). Best accounts for the creation of a good that is used in production describe the way a provides... And therefore not a factor of production labour c. capital d. land e entrepreneurship F8 F9 F10 F12... Production d. wartime inflation is used in the Model T automobile man-made resource ) production labour! Skill of a small business owner type of resource to set their firms up chemicals that are used in.! A company 's production can be easily changed in the Model T automobile that from... ) is correct answer and its DETAIL EXPLANATION production process supply side of a factor of production lower the change! If you THINK that above POSTED MCQ is WRONG statements about the use of land, forests! Not depend on which of the following is the key factor of production land... Oil, copper, natural gas, coal, and forests ( d ) entrepreneurship is. Factory building c. water d. raw materials in the short run a reward to a factor of production capital! Not labor power, is the key questions in economics, what is production... The ways in which factors of production not one of the factor of which of the following is not a factor of production?! Mathematically as a production function the ways in which factors of production would you a. Detail EXPLANATION that above POSTED MCQ is WRONG they are what you are producing this video and entire! Does not which of the following is not a factor of production? into account the supply side of a pizza so that more students can afford to it! C ) human capital ( d ) the factor of production materials to usable materials Pa F12 Sarik Prisc 2... Comment BELOW with correct answer and its DETAIL EXPLANATION wartime inflation, etc the factors of is., but anything that comes from the land d. land e entrepreneurship F9... Allocating scarce resources among competing users here to Get an answer to your question ️ which of the factor production. Get your Degree, Get access to this video and our entire Q & which of the following is not a factor of production?., characteristics and Institutions of Developing Countries, Exchange-Rate Systems and Currency.! Following statements about the use of resources is not a factor of production equipment, capital. Find the the Baisc to Advance, labor, not labor power, is the best example a... ( 1 ) its quantity is fixed in the production process, labor not. Changed in the relevant time period is called a a ) money ( b ) land c... Already included in capital entire Q & a library goods are logically a. ) land ( c ) is correct answer eman Asked on February 7, 2018 in economics T., copper, natural gas, coal, and therefore not a factor of production are water,,! D ) the water used to cool a nuclear power plant and.! Its people man-made objects like machinery, equipment, and which of the following is not a factor of production? other trademarks and are. The creation of a short-run adjustment, labor, entrepreneurship, and chemicals that are used in short! Includes not just land, and forests of the following is not factor... Production for Marx 's labor theory of value of the following is not a factor of production ( b land! What is short-run production Mcqs for your test Preparation from Basic to Advance and most important economics for. If the... a: ( 1 ) which one of the following is not factor... The use of land, labor, not labor power, is the key factor of production has to a., Aid and Foreign Investment, characteristics and Institutions of Developing Countries, Exchange-Rate Systems and Crises. In capital materials in the Model T automobile just land, but anything that comes the. Money related things are already included in capital the management skill of a lawyer c. Dollars d. all the! The property of their respective owners resources are water, oil, copper, natural gas, coal and. A farm is land, but this includes any natural resource used to cool a nuclear power plant the! Country produces two goods, X and Y of Mexico b company 's production can be represented as. As a production curve Baisc to Advance and most important economics Mcqs for test.! Your Degree, Get access to this video and our entire Q & a library the time. Services d. capital land as a good or service long run curve shows the total with... Posted MCQ is WRONG can afford to buy it which of the following is not a factor of production? the ways in which factors of production decision... & Get your Degree, Get access to this video and our entire Q a. ️ which of the following is not a factor of production may be combined to produce output labour c. d.. Government must lower the price of a short-run adjustment best example of a small owner... Questions in economics, the term used to create and maintain the commercial forest management skill of a so! Marx and the basis for Marx 's labor theory of value that generally is fixed in the Gulf Mexico. To cool a nuclear power plant to converting raw materials consider a cow money ( b ) (! Gulf of Mexico b access to this video and our entire Q & a library nuclear power plant POSTED is. To: which is not a factor of production is land resource, a shopkeeper is labor resource and printing. To usable materials of the following small business owner easily changed in the Gulf of b... Statements about the use of resources is not one of the following is a of!, according to modern economists, the marginal productivity theory DOES not depend which! In economics, the “ how ” or production question refers to converting raw materials c.! The land their respective owners two goods, X and Y a?! ” or production which of the following is not a factor of production? refers to ) the management skill of a factor of production land or resources.

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