Which of the following is not a factor of production?
COMMERCE
WAEC 2023
Which of the following is not a factor of production?
- A. Capital
- B. Staffing
- C. Labour
- D. Land
Correct Answer: B. Staffing
Explanation
In economics, the four main factors of production are land, labor, capital, and entrepreneurship. Staffing is not considered a factor of production. It is rather a function of management that involves recruiting, selecting, training and developing employees.
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