Which of the following statements about factors of production is false? a) The term 'factors of production' is another term for resources. Ob) The factor of production termed labour means human resources. c) The factor or production termed land means natural resources. d) The factor of production termed capital means the money which the owners of firms need in order to set their firms up.

Which of the following statements about factors of production is false? a) The term 'factors of production' is another term for resources. Ob) The factor of production termed labour means human resources. c) The factor or production termed land means natural resources. d) The factor of production termed capital means the money which the owners of firms need in order to set their firms up.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 5PA

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