Choose an input to the production process below. 1: Finished goods 2: Pay 3: Knowledge 4: Inventory

Choose an input to the production process below.

1: Finished goods

2: Pay

3: Knowledge

4: Inventory

Answer: 3: Knowledge

Knowledge is regarded as a managerial input factor. In the area of business and an organization, the knowledge refers to the abilities, expertise, and brainpower and intellectual output of a workforce, which are critically necessary in making significant contributions of various activities involved in the production process.

Other inputs to the production process typically include:

Raw materials: The elements which are required for the manufacture of a product—that is materials or components.

Labor: The human show and do of employees to complete the production process.

Capital: The technology, machinery and plants introduced into the manufacturing process.

Land: The area of land or building substratum that is required for factories, mines, or source extraction, displace people.

Knowledge is one of the main inputs as it enables workers to operate the machinery, follow the processes, do problem-solving and meanwhile, contribute the process of production by making it more effective and better. Along with the lack of the required information and skills, the other factors might not be used efficiently, and hence, the final production can be inadequate.