Factors of production are
A)the mathematical calculations firms make in determining their optimal production levels.
B)social and political conditions that affect production.
C)the physical relationships between economic inputs and outputs.
D)inputs into the production process.

Question

Quizplus · Accepted Answer

Factors of production are the various inputs including land, labor, capital, and entrepreneurship that are used in the production process. These inputs are combined to produce goods and services. Therefore, option D 'inputs into the production process' is the correct answer.

Factors of Production Are