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JAMB Economics 1983 Question 6

Question 6

Theory of Production

Which of the following sets fully represents factors of production?

  1. A.Sunlight, machinery, man, land
  2. B.Land, labour, capital, enterprise, technology
  3. C.Capital, technology, ideas, market, land
  4. D.Land, water, weather
  5. E.Money, market, middlemen.
Show the answer and explanation

Answer: B (Land, labour, capital, enterprise, technology)

Explanation

Of the sets given, only B lists land, labour, capital and enterprise (the four factors), together with technology.