The factors of production are
A)land, labor, capital, and entrepreneurial ability.
B)interest, wages and dividends.
C)payments and receipts of interest, dividends, and other income on foreign investments that were previously made.
D)none of the above

Question

Quizplus · Accepted Answer

The factors of production are the resources needed to produce goods and services, which include land, labor, capital, and entrepreneurial ability. Option B is incorrect as it lists different types of payments and receipts, not factors of production. Option C is incorrect as it describes income from foreign investments rather than factors of production. Option D is incorrect as none of the choices accurately describe the factors of production.

The Factors of Production Are