With respect to factors of production

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Reference no: EM131092920

With respect to factors of production, which of the following statements is not true?

a. Factors of production are also known as resources.

b. In order to produce any good or services, it is necessary to have factors of production.

c. Factors of production include land, labor, capital, and entrepreneurship.

d. Only those resources that are privately owned are counted as factors of production.

Reference no: EM131092920

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