Explain in detail the requirements for factor of production.
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3
power
land
labour
water
raw materials
capital
land
labour
water
raw materials
capital
Answered by
2
1.Land (including all natural resources),
2.Labor (including all human resources),
3.Capital (including all man-made resources),
4.Enterprise (which brings all the previous resources together for production).
2.Labor (including all human resources),
3.Capital (including all man-made resources),
4.Enterprise (which brings all the previous resources together for production).
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