Which of the Following Are Considered Factors of Production Used

question 80

Multiple Choice

Which of the following are considered factors of production used to produce goods and services?
I. Land
II. Labor
III. Capital
IV. Entrepreneurship

• A) I and III only
• B) I and II only
• C) I, II and III only
• D) I, II, III and IV

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Definitions:

Sales

The total revenue earned from goods sold or services provided over a certain period of time.

Exchange Rates

The rate at which one currency can be exchanged for another, influencing international trade and economics.

Foreign Subsidiary

A company owned or controlled by another company (parent) located in a different country, conducting business operations in the subsidiary's local market.

Functional Currency

This represents the primary currency of the economic environment in which a business operates, determining the currency in which its financial statements are presented.