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:

Unbiased Estimator

A statistical estimator whose expected value is equal to the parameter being estimated, ensuring accuracy across an infinite number of samples.

Population Proportion

It is a measure that gives the fraction of individuals in the population having a particular attribute.

Margin Of Error

An estimate of the amount by which an observed sample statistic may differ from the true population parameter, reflecting the confidence level of the statistic.

Population Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values across a whole population.