Q. Consider the following:
1.Land
2.Labour
3.Capital
4.Entrepreneurship
Which of the above are the factors of production?

[A] 1, 2 and 3 only

[B] 2, 3 and 4 only

[C] 1 and 4 only

[D] 1, 2, 3 and 4

Answer: D
Notes:

Explanation – The factors of production are land, labour, capital, time, and entrepreneurship. Some heterodox economists, however, consider land, labour, and time to be the three primary factors of production. They believe capital and entrepreneurship to be secondary factors of production.

Source: The Hindu