Question

Which of the following is not a factor of production [ Question from economics]
1.Land
2.Labour
3.Physical capital
4.Skills

Options :
1. C and D
2. Only C.
3. Only D
4. NONE OF THE ABOVE

Answer 1

Answer:

4. None of the above

Explanation:

land, labor, physical capital, and entrepreneurship are four factors of production.

In contrast, many economists today consider "human capital" (skills and education) as the fourth factor of production, with entrepreneurship as a form of human capital.