Which of the Following Is a Factor of Production

question 18

Multiple Choice

Which of the following is a factor of production?

• A)Export industries
• B)Military power
• C)Unskilled labor
• D)Multinational firms

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Definitions:

Hiring And Training Cost

The expenses associated with recruiting, hiring, and training employees, which include advertising for positions, interviewing, onboarding, and educational programs.

Labor Hours

The total number of hours worked by employees within a specific period, often used to measure productivity or labor costs.

Inventory Holding Cost

Expenses associated with storing unsold goods, including warehousing, insurance, taxes, depreciation, and opportunity costs of capital tied up in inventory.

Marginal Subcontracting Cost

The extra expense associated with outsourcing an additional unit of production or service.