3. emdjay23. Which of the following is not a factor of production? Factors of Production. Asked 3/10/2018 10:21:37 PM. Which factor best accounts for the price change in the Model T automobile? Search for an answer or ask Weegy. Factors of Production: Factors of production are resources used by a firm to produce the goods and services that are sold to consumers. 1 Answer/Comment. Selected Answer: C. entrepreneurs Answers: A. labor B. government C. entrepreneurs D. capital 0.05 out of 0.05 points 0.05 out of 0.05 points 0 out of 0.05 points Rating. Economics Mcqs for test Preparation from Basic to Advance. Labour is an active factor but land is a passive factor of production. Goods and Services C. Land D. Labor. All of these factors also earn income in one form or another. Question. According to economic theory, there are four main factors of production - land, labour, capital, and entrepreneurship. Anything that helps in production is the factor of production. In the given options, first three are the factors of production while the fourth option of Product is not the main factor of production. A Cobb-Douglas production function for new company is given by f(x,y) 50x 2 5 y 3 5 where x represents the units of labor and y represents the units of capital. Which of the following is not a factor of production ? These are the various factors by mean any resource is transformed into a more useful commodity or service. Register Now. New answers. Asked 2/1/2014 8:23:25 PM. They are the starting point of the production process. A. Lorem ipsum dolor sit amet, consectetur adipiscing elit.Morbi adipiscing gravdio, sit amet suscipit risus ultrices eu.Fusce viverra neque at purus laoreet … They are the inputs for the process of production. Land is Immovable: It cannot be transported from one place to another. Question. Goods and Services is not a factor of production. Get an answer. Goods and Services is not a factor of production. s. Log in for more information. Economics. 1 Answer/Comment. Capital B. The Federal Reserve Bank of St. Louis lists the four factors of production as labor, land, capital and entrepreneurship; anything not in these categories is not a factor of production. Which of the following is not a factor of production? All other options are factors of production. Question 11 Which of the following is NOT a factor of production? To grow wheat, man has to cultivate land. A. For example, wheat cannot grow on a piece of land automatically. 2 hours ago Consider the following(the table percentage stand for the percentage of the US resources in the north and south): 1. Money is specifically mentioned as not being a factor despite popular belief. B. Updated 79 days ago|10/8/2020 10:24:05 PM. Censorship of the press was not only a problem in Nazi Germany, it also occurred in the fascist state of Italy. A. the amount of money required to buy a car B. the training required to repair an airplane engine C. the teacher required to teach an economics class D. the land required for a hog farm Mcq Added by: Adden wafa. s. Log in for more information. Updated 2/1/2014 8:39:12 PM. Low deman B. Orginized labor C. Mass production D. wartime inflation . The factors of production refer to the inputs which are used in the production process of goods and services. 5. Application of Economics Application of Economics Economics Mcqs. In the given case, the ski jump is not a factor of production, because this is a final good. A. labor B. land C. money D. capital. Land is a Passive Factor of Production: This is because it cannot produce anything by itself. 6. That helps in production is the factor of production despite popular belief C. Mass D.! Piece of land automatically these are the inputs which are used in the Model T automobile Mass production D. inflation. 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