Which of the following are factors of production?
A)Output in a production function.
B)Productivity.
C)Land,labor,capital,and entrepreneurship.
D)Implicit and explicit costs.

Question

Quizplus · Accepted Answer

Land, labor, capital, and entrepreneurship are the four traditional factors of production that are necessary to produce goods and services. Output, productivity, implicit and explicit costs are not factors of production, but rather are related to the production process or the cost of production.

Which of the Following Are Factors of Production