The concept of 'Data as a Factor of Production' suggests that:
A. Data has no productive value
B. Data has become a key input in production processes alongside labour, capital and land
C. Only traditional factors matter
D. Data is only a consumption good
Answer: Option B
Solution (By JKSSB Mock Tests)
In the digital economy, data is increasingly recognised as a critical factor of production that enables personalisation, prediction, optimisation and the creation of new products and services.
No comments yet. Be the first to start the discussion!