WAEC Commerce 2017 Objective — Question 12
Question 12 of 50 from the West African Examinations Council (WAEC) Commerce 2017 Objective paper, with the correct answer and a full explanation.
Advertisement
12. Which of the following is not factor of production?
- A. A. Capital
- B. B. Labour
- C. C. ExchangeCorrect
- D. D. Entrepreneurship
Explanation
Factors of production include: land, labour, capital and entrepreneur. Exchange is not a factor of production.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.