Explain how the traditional inputs are arranged by the farmers for production?
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Explanation:
The essential inputs which are required for the production of goods and services are known as factors of production. For example, for the production of cloth, cotton-machine, labour and technology is required.
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The traditional inputs are arranged by the farmers for production by a certain loan or an agreement of exchange of a certain amount of crop with the money lender
Explanation:
- The traditional form of farming includes the the exchange of land which is occupied by a landlord and then promising a certain percentage of the crops for a particular amount that would be given to the landlord
- this process had a lot of disadvantage because if a particular year had lesser amount of rainfall than the crop production will also go down resulting in a decrease in the earning of the farmers.
To know more,
Explain the three sectors of the economy of India.
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