Question

define factor of production ​

Answer 1

Answer:

In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.

Answer 2

Factors of production are the inputs needed for the creation of a good or service.

☛ There are four factors of production are :

$\bf \ \rightarrow \: \: Land$

$\bf \ \rightarrow \: \: Labour$

$\bf \ \rightarrow \: \: Physical \: \: Capital$

$\bf \ \rightarrow \: \: Human \: \: Capital$