Question

    Which of the following is not correct factor/s of

    production?
    A Land Correct Answer Incorrect Answer
    B Labour Correct Answer Incorrect Answer
    C Capital Correct Answer Incorrect Answer
    D Technology Correct Answer Incorrect Answer
    E All correct Correct Answer Incorrect Answer

    Solution

    Factor Cost = Factors of Production 1. Land (Rent) 2. Labour (Wages) 3. Capital (Interest) 4. Entrepreneurship (Profit) Factor Cost = Rent + Wages + Interest + Profit Please video for more clarity.

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