Which of the Following Are Considered as Major Factors of Production

question 10

Multiple Choice

Which of the following are considered as major factors of production?

• A)Labor.
• B)Capital.
• C)Land.
• D)All of the above.
• E)None of the above

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Definitions:

Negotiation of Contracts

The process of discussing terms and details between parties in order to reach a mutual agreement before finalizing a contract.

Uniform Commercial Code

An extensive collection of regulations that oversee every commercial activity in the United States, designed to synchronize the legislation of sales and various commercial dealings throughout the states.

Interstate Commerce

Trade, traffic, or transportation involving the crossing of state lines, regulated by the federal government.

Contracts

Agreements that create legally enforceable obligations between parties, typically involving the exchange of goods, services, money, or promises.