Which of the following is a cost of production? Select all that apply.

Question

(1 point)
Responses

improving processes
improving processes - only 2 answers are allowed

buying raw materials
buying raw materials - only 2 answers are allowed

spending time working
spending time working - only 2 answers are allowed

paying property taxes
paying property taxes - only 2 answers are allowed

choosing the best products
choosing the best products - only 2 answers are allowed
Only 2 answers are allowed.
Only 2 answers are allowed.

Answer 1

The costs of production from the options provided would be:

1. buying raw materials
2. paying property taxes

These are direct costs associated with the production process. The other options (improving processes, spending time working, and choosing the best products) may contribute to production efficiency or decision-making but are not direct costs of production.