Which of the following is not a factor of production?
A)Land
B)Labor
C)Raw materials
D)Competitive forces
E)Managerial sophistication

Question

Which of the following is not a factor of production?
A)Land
B)Labor
C)Raw materials
D)Competitive forces 
E)Managerial sophistication

Quizplus · Accepted Answer

Competitive forces is not a factor of production. Factors of production refer to the resources used in the production of goods and services, including land, labor, and raw materials. Competitive forces are external market conditions that impact the demand and profitability of a business or industry.

Which of the Following Is Not a Factor of Production