Concept:The factors of production are the resources needed to produce goods and services.
Explanation:The four recognised factors of production are land, labour, capital, and entrepreneurship.
Land includes natural resources, labour is human work, capital is man-made goods used in production, and entrepreneurship organises the other three.
Exchange is simply the process of trading goods and services; it is not a productive resource.
Therefore, exchange is not a factor of production.
Answer:C. Exchange