A "specific" factor of production is:
A) critical to the production of the good or service.
B) not transferable to other types of production and can only be used for the product in question.
C) a set quantity for each unit produced.
D) the opposite of a general factor, meaning it must fit within certain narrow quality parameters.

Question

Quizplus · Accepted Answer

A specific factor of production is one that is not easily transferable to other types of production and can only be used for the production of a particular good or service. It is a limited and unique input that cannot be used for other purposes.

A "Specific" Factor of Production Is