Question

Conclusion on factors of production

Answer 1

Answer:

Conclusion on factors of production

Land , labour , capital and entrepreneurship are the major factors of production .

Factors of production is that term of economics Which are described as inputs are required to produce goods and services with an objective of making an economic profit. This is also includes the optimization of the resource in order to receive efficiency and efficacy while the production process.

Land :- it can be of commercial land or real estate which are used for production.

Labour is that asset which manages other non living assets

capital mean financial assets by which all assets can be purchased.

Entrepreneurship combines all other factor of production .