Question

Which of the following is NOT a factor of production?

• A. Land
• B. Capital
• C. Profit
• D. Labor

Answer 1

Answer:

C. Profit

Factors contributing to production

➤ Land

► Employment

► Capital

► Organization

• Profit is NOT a factor of production - it is rather the reward or return that entrepreneurs receive for their efforts. It's the income earned after all costs of production have been paid.