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The factors of production in perfect competition are:

A. Stagnant

B. Mobile

C. Immobile

D. Rare

Correct Answer : B.


One of the assumptions for perfect competition is that factors of production are mobile. Factor mobility refers to the ability to move factors of production-labor, capital or land from one production process into another. Factor mobility also means the movement of factors between different firms. For example when a worker leaves employment at a textile firm and begins work at a automobile factory.}

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