The Factors of Production Include

question 193

Multiple Choice

The factors of production include

• A)wages.
• B)capital.
• C)investment.
• D)transfers.

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Definitions:

Framework

An essential structure underlying or supporting a system, concept, or text.

Measuring

The process or technique of determining the extent, dimensions, quantity, or capacity of something, typically by comparison with a standard.

Planning

The process of thinking about and organizing the activities required to achieve a desired goal, involving the creation and maintenance of a plan.

Controlling

The process of monitoring performance, comparing it with goals and standards, and taking corrective action when necessary.