Which of the Following Is Not a Factor of Production

question 14

Multiple Choice

Which of the following is not a factor of production?

• A)Land
• B)Money
• C)Capital
• D)Labor
• E)Entrepreneurship

Analyze the implications of sampling bias on statistical inference.

Identify and describe methods for selecting sample populations.

Understand the distinction between parameters and statistics.

Describe the process and importance of stratified sampling in research.

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Definitions:

Interest Rate

The amount charged by lenders as a percentage of the principal, or the amount earned on deposits over a specified period.

Equilibrium Value

The point at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.

Opportunity Cost

Whatever must be given up to obtain some item.

Holding Currency

The practice of keeping money in the form of cash or liquid assets as opposed to investing or depositing it.