The factors of production are:
A)the ingredients that go into making any good or service.
B)the outputs that society as a whole have chosen to produce.
C)the costs and benefits of a given production process.
D)the list of inputs required for a given durable good.

Question

Quizplus · Accepted Answer

The factors of production refer to the resources and inputs that are required in the production of goods and services. These inputs are typically classified into four categories: land, labor, capital, and entrepreneurship. The factors of production can be thought of as the "ingredients" that go into making any good or service, and are essential for the creation of economic goods and services.

The Factors of Production Are