Question

Explain four basic requirements for production of goods and services?

Answer 1

Land (including all natural resources),

Labor (including all human resources),

Capital (including all man-made resources), and.

Enterprise (which brings all the previous resources together for ᴩʀᴏᴅᴜᴄᴛɪᴏɴ
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Answer 2

Four basic requirements for production of goods and services are :
1) land ( including all natural resources )
2) Labor ( including all human resources )
3) Capital ( including all man-made resources )
4) Enterprises ( which brings all the previous resources together for production)
These factors are classified also as management , machines , materials and money or other such nomenclature . More recently , knowledge has come to be recognized as distinct from labor , and as a factor of production in its own right .