Which of the Following Is the Factors of Production

question 163

Multiple Choice

Which of the following is the factors of production?

• A) The outputs generated by the production process of transforming land, labor, and capital into goods and services.
• B) The land resources, such as natural resources, that are unimproved by human economic activity.
• C) Land (natural resources), labor (human capital, entrepreneurship), and capital (constructed inputs such as factories).
• D) Labor and capital in industrialized countries, where natural resources are no longer used to produce goods and services.

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Definitions:

Income From Operations

The earnings generated from a company's regular business activities, excluding any investment income or expenses unrelated to its core operations.

Service Department Expenses

Costs associated with the support departments of a company that do not directly contribute to the production of goods but are necessary for operations.

Activity Base

An activity base is a measure used in cost accounting to allocate overhead costs to products or services, based on activities such as machine hours or labor hours.

Work Orders

Instructions or orders issued for the completion of a job or task, typically including details such as materials, labor, and specifications.