A factor of production is the same as:
A) the amount of a good produced.
B) the price of a good.
C) an opportunity cost.
D) a resource.

Question

Quizplus · Accepted Answer

A factor of production refers to any resource that is used to produce goods and services. Examples include land, labor, capital, and entrepreneurship. It is not the same as the amount of a good produced, the price of a good, or an opportunity cost.

A Factor of Production Is the Same As