Question

explain about any three factors of production​

Answer 1

Answer:

Though the number and variety of the different resources businesses require is limitless, economists divide the factors of production into three basic categories: land, labor, and capital.

Land refers to the place where the producing factory is situated.

Labor refers to the number of people working on the factory.

Capital refers to the money invested on the factory' raw product and machinery.

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Answer 2

Answer:

the number and variety of the different resources businesses require is limitless, economists divide the factors of production into three basic categories: land, labor, and capital. Land refers to all of the natural resources that businesses need to make and distribute goods and services.

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