Which of the following is NOT a factor of production?
AA tractor used on a farm
BMoney held in a savings accountCORRECT
CA skilled engineer
DA plot of land in Lagos
GCEEconomicsBasic Economic Concepts2022
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
The four factors of production are land, labour, capital, and entrepreneurship. Money in a savings account is a financial asset, not a real productive resource — it is not itself used to produce goods and services. A tractor is physical capital, a skilled engineer is labour, and a plot of land is the factor 'land'.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →
Practice more Economics questions
GCE Economics has thousands more questions like this — with Worked answers on every one.