Which of the Following Is Not a Factor of Production

question 74

Multiple Choice

Which of the following is not a factor of production?

• A)an acre of farmland
• B)a drill press in a machine shop
• C)the manager of the local tire shop
• D)$1,000 in cash

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Definitions:

Sales Orientation

A business approach that prioritizes selling as many products or services as possible, often without a specific focus on customer needs or product quality.

Specific Needs

Particular requirements or desires of an individual or entity.

Henry Ford

American industrialist and founder of Ford Motor Company who revolutionized factory production with his assembly-line methods.

Market Orientation

A business philosophy where the focus is on identifying and meeting the needs and wants of customers through product innovation and customer satisfaction.