Which of the Following Is Not a Factor of Production

question 134

Multiple Choice

Which of the following is not a factor of production?

• A) A computer chip.
• B) The service of a lawyer.
• C) Dollars.
• D) All of the above are factors of production.

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Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics, as described in his book "The Wealth of Nations."

Economic Motivation

The driving forces behind economic activities, including incentives and desires that influence the economic decisions of individuals or organizations.

John Rawls

A philosopher known for his theory of justice as fairness, which argues for a system of distributing social and economic goods in a manner that benefits the least advantaged members of society.

Moral Equality

The principle that all individuals are equal in moral worth and should be treated as such.