explain the factors recquired for production of goods and services
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The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic.
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Answered by
1
Answer:
The factors required for the production of goods and services are:-
- area or the physical space
- Natural resources
- Labours
- Capital or the money
- Equipments..... etc
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