What are factors of production?
A) positive or negative changes in inventory
B) weather and social and political conditions that affect production
C) the physical relationships between economic inputs and outputs
D) inputs into the production process

Question

Quizplus · Accepted Answer

Factors of production refer to the inputs used in the production process, including natural resources, labor, capital, and entrepreneurship. Therefore, option D is the correct choice. Option A is incorrect as changes in inventory are not considered as factors of production. Option B is also incorrect as it refers to external factors that may affect production, but not the actual inputs used in the process. Option C is incorrect as it is a description of the relationship between economic input and output rather than the factors of production.

What Are Factors of Production