Which of the Following Is NOT a Factor of Production

question 18

Multiple Choice

Which of the following is NOT a factor of production?

• A) money
• B) human capital
• C) physical capital
• D) labor

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Definitions:

Marginal Rate

A measure of the change in a variable (often cost, revenue, or profit) as it relates to a unit change in another variable.

Substitution

The economic principle describing how consumers or producers switch between goods or resources as relative prices or availability change.

Quart

A unit of liquid volume equal to two pints, approximately 0.946 liters in the United States.

Pound

A unit of currency used in the United Kingdom and other areas, or a unit of weight equal to 16 ounces.