Examlex
A tractor is an example of which of the following factors of production?
Gross Domestic Product
Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Monetary Value
The financial worth of an item, service, or asset, expressed in terms of currency.
Products and Services
The combination of physical goods and intangible activities that fulfill customer needs and wants.
Balance of Trade
The difference between a country's exports and imports of goods over a certain period, indicating the economic health of a nation.
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