The term 'factors of production' includes all of the following EXCEPT:

The term "factors of production" refers to the resources used to produce goods and services in an economy, specifically land, labor, and capital. Land encompasses all natural resources that are used to produce goods, such as minerals, water, and agricultural land. Labor represents the human effort that is involved in the production process, including physical and intellectual work. Capital refers to the tools, machinery, and buildings used to produce goods and services, which enable efficiency and productivity.

Profit, on the other hand, is not considered a factor of production. Instead, it is the financial gain that results from the production and sale of goods and services, calculated as total revenues minus total costs. Profit is an outcome of the efficient use of the factors of production rather than a resource used to produce goods and services.

Understanding the distinction between the factors of production and profits is fundamental in economics, as it highlights the roles of various inputs in the production process and the results that emerge from utilizing those inputs effectively.