Question

Which of the following is not a factor of production?

		A parking lot
		$15,000 saved in a bank
		A constructor worker
		A bulldozer.

Answer 1

Since there are four factors of production land, labor capital and entrepreneur. Some resources or factors of production are fixed in short-run and some are variable while in the long-run all factors of production are variable.

Hence a parking lot can come under the category of land because for providing the services of parking.

A constructor worker is part of labor.

A bulldozer is part of capital.

$15,000 saved in a bank are saving, so it is not part of any factors of production land, labor, capital or entrepreneur.

Hence it can be said that $15,000 saved in a bank is not a part of factors of production.

Hence option second is the correct answer.