Question

class 9 what are the factors of production?​

Answer 1

factors of production are :

1. land : it is fixed.
2. labour : two types of labour are : skilled and unskilled.
3. physical capital : it is of two types : fixed capital : it is machinery that farmers use over many years. working capital : it is the capital required at the initial stage of the production. eg, raw material,etc.
4. human capital : it is the most superior factor than above factors or other factors of production.

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