Question

3. Mention the factors of production?

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Answer 1

Answer:

Factors of production:-

Labour

Capital

land

Physical capital

Human Capital

Entrepreneur...

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Answer 2

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Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy.

➪Economists divide the factors of production into four categories:

• land
• landlabor
• landlaborcapital
• landlaborcapitalentrepreneurship.