Which of the following is not an example of a factor of production?
A)an office building
B)a product's price
C)the land plowed by a farmer in order to grow corn
D)the chief executive officer of a large corporation
E)a worker on an assembly line producing compact disc players

Question

Quizplus · Accepted Answer

A product's price is not a factor of production. Factors of production are the resources used in the production process, such as land, labor, capital, and entrepreneurship. A product's price is determined by supply and demand in the market and is not a resource used in the production process.

Which of the Following Is Not an Example of a Factor