Why is money NOT considered to be an economic resource?
A) Money is produced by the Bank of Canada.
B) Money loses its value too easily due to inflation.
C) Money is an intangible good.
D) Money is not directly used to produce goods and services.

Question

Quizplus · Accepted Answer

Money itself is not a factor of production, like land, labor, and capital, which are directly utilized to produce goods and services. Money is a means of exchange or a medium of exchange that is used to facilitate transactions. Therefore, it cannot be considered an economic resource.

Why Is Money NOT Considered to Be an Economic Resource