The Key Distinction Between a Factor of Production and an Input

question 64

Multiple Choice

The key distinction between a factor of production and an input is that:

• A) an input is an enduring source of income, but a factor of production is used up in production.
• B) a factor of production earns income from selling its services over and over again, but an input cannot.
• C) an input earns income from selling its services over and over again, but a factor of production cannot.
• D) a factor of production has limited earning potential.

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Definitions:

International Nickel Company

A multinational corporation that was historically involved in nickel mining and smelting; now part of Vale S.A.

DeBeers Diamond Company

A large multinational corporation that specializes in diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors.

National Football League

A professional American football league consisting of 32 teams, divided equally between the National Football Conference (NFC) and the American Football Conference (AFC).

American Football League

A professional American football league that merged with the National Football League (NFL) in 1970, now known as the AFC within the NFL.