What Is Another Term for Factors of Production

question 170

Multiple Choice

What is another term for factors of production?

• A) inputs
• B) outputs
• C) goods
• D) services

---

Definitions:

Random Number Table

A table consisting of sequences of numbers generated in a random fashion, used for random sampling and simulation in statistical analysis.

Random Number Generator

An algorithm or device designed to produce a sequence of numbers or symbols that cannot be reasonably predicted better than by random chance.

Nonsampling Error

Nonsampling Error refers to inaccuracies in survey or experiment results caused by factors other than the sample selection, such as data collection and processing errors.

Sampling Error

The discrepancy between the estimated population parameter and the actual population parameter due to the sample not being a perfect representation of the population.