Which of the Following Is NOT a Factor of Production

question 18

Multiple Choice

Which of the following is NOT a factor of production?

• A) money
• B) human capital
• C) physical capital
• D) labor

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Definitions:

Product Cost

The total of costs directly assigned to the production of goods sold by a company, including materials, labor, and overhead.

Salespersons

Individuals who sell products or services for a company, often working on commission and responsible for generating revenue for the business.

Direct Materials Used

The raw materials directly utilized in manufacturing a product, which are a component of the cost of goods sold.

Direct Labor

The labor costs directly tied to the production of goods or services, including wages for workers who physically manufacture products.