Which of the following is NOT considered a factor of production?

Currency is not considered a factor of production because factors of production refer specifically to the inputs used to create goods and services in an economy. The primary factors of production are labor, natural resources, and capital.

Labor encompasses the human effort involved in the production process, from physical work to intellectual contributions. Natural resources refer to the raw materials and resources available in the environment, such as land, minerals, water, and forests, which are utilized in production. Capital includes manufactured resources like machinery, buildings, and tools that assist in the production of goods and services.

Currency, on the other hand, serves as a medium of exchange and a measure of value in an economy but does not directly contribute to the production process itself. It facilitates transactions and serves as a store of value but does not produce goods or services. This distinction highlights why currency is not classified as a factor of production.