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