Question

explain the basic requirements for the production of goods and services which one is the most important

Answer 1

land , labour, capital nd entrepreneur is most important....

Answer 2

the four requirements of the production of goods and service are land, labour, capital and human capital.
land
land is the physical place where all the economic activities takes place land plays an important part in production because lend itself and the resources on it are usually Limited
labour
it seems obvious but things cannot be produced unless someone makes them so labour is the another important requirement of production of goods service labour all the people that are available to transform resources into goods or services that can be purchased land is the physical and human mental effort of human beings used for the production of goods and services.
physical capital
physical capital refers to variety of inputs that are needed at different stages of production such as tools machinery finances raw materials etc
human capital
human capital is the fourth requirement of production of goods and services human capital is the knowledge and effort that is put into arrange for the other requirements like land labour and physical capital to start the production of goods and services
hope it will help you
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