Question

What is/are the factor(s) of production?

• A. Land
• B. Labour
• C. Capital
• D. All of these

Hint:

The main ingredients for production are Land, Labour, and Capital.

Answer 1

The Correct Option is D

The factors of production are the inputs used to produce goods and services. The classical factors are:

Land: All natural resources.
Labour: All human effort.
Capital: Man-made goods used in further production (machinery, tools, factories).
Entrepreneurship: The skill of combining the other three factors to produce goods and services.
The options listed represent the first three classical factors, so "All of these" is the correct answer.