Factors of Production Include All of the Following EXCEPT

question 160

Multiple Choice

Factors of production include all of the following EXCEPT

• A) labor.
• B) capital.
• C) land.
• D) None of the above answers are correct because all are factors of production.

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Definitions:

Business Risk

The potential for a company to experience losses or fail to achieve its financial goals due to economic conditions, operational issues, or other unforeseen factors.

Economic Profit

The total revenue a firm earns minus both its explicit and implicit costs, representing surplus value created from production.

Economic Loss

A monetary loss that occurs when the cost of producing a good or service exceeds the revenue gained from selling it.

Economically Efficient

A situation where resources are allocated in a way that maximizes the net benefit to society or an economy.