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JAMB Commerce 2002 Question 5

Question 5

Production

Capital as a factor of production can be used as

  1. A.money that is regarded as asset
  2. B.goods that are useful in business
  3. C.input for further production
  4. D.services that provide satisfaction
Show the answer and explanation

Answer: C (input for further production)

Explanation

Capital is man-made wealth used to produce more goods, i.e. an input for further production.