Which of the Following Is Not a Factor of Production

question 182

Multiple Choice

Which of the following is not a factor of production?

• A)the water used to cool a nuclear power plant
• B)the effort of farmers raising cattle
• C)the wages paid to workers
• D)the management skill of a small business owner
• E)the land used by a farmer to grow wheat

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Definitions:

Type II Error

The error made when failing to reject a false null hypothesis, often referred to as a "false negative".

Null Hypothesis

A statement used in statistical testing which proposes that no significant difference or effect exists between certain characteristics of a population.

Type I Error

The error of rejecting a true null hypothesis, also known as a "false positive."

Null Hypothesis

An assertion or proposition in statistics that indicates no significant difference or effect, serving as the default assumption to test against.