Advertisements
Advertisements
Question
Tick the one which does not belong to the following group.
Options
Land
Interest
Labour
Entrepreneur
MCQ
Solution
Interest
Explanation:
- Land, Labour, and Entrepreneur are all factors of production in economics.
- Land refers to natural resources.
- Labour refers to human effort.
- Entrepreneur refers to the person who organizes and manages the other factors of production.
- Interest is not a factor of production; it is the return or payment made for the use of capital. Therefore, it does not belong to the group of factors of production listed.
shaalaa.com
Factors of Production
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Primary factors are
What are the derived factors of production?
______ are called factors of production.
Use of high yielding variety of seeds of related to productivity of ______.
Which of the following types of capital gets exhausted after its use and gets embodied in the finished product?
Mention two differences between an entrepreneur and other factors of production.
What do you understand by the term 'Capital formation'?
Name the factors of production.
Match the following and select the correct option.
| Factor of Production | Reward of factor of production | ||
| (i) | Land | (A) | Wage |
| (ii) | Labour | (B) | Profit |
| (iii) | Capital | (C) | Rent |
| (iv) | Entrepreneur | (D) | Interest |
Why is capital called a 'produced means of Production?
