Which one of the following is an example of a factor of production?
A)an insurance policy
B)a donut
C)the skills of a welder
D)an IBM stock certificate
E)a computer game

Question

Quizplus · Accepted Answer

Factors of production are resources used in the production of goods and services. The skills of a welder are considered a factor of production as they are used to produce goods such as metal products. Options A, D, and E are not factors of production as they do not contribute to the production process. Option B may be considered a product, but not a factor of production.

Which One of the Following Is an Example of a Factor