Question

explain the factors responsible for production ?​

Answer 1

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Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. They include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship.

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Answer 2

Factors of production are :-

Land :- The land is an important factor for cultivation. As vast as tge land will be , the production will be more because large land provide multiple cropping etc,.

Labour :- Unskilled, Semi - Skilled and Skilled labours are main factors. There is aboundance of labour in nature.

Capital :- Fir starting up any business you need money to invest. This is what we mean by capital.

Human Capital :- Last but not the least, most important capital amongst all is Human Capital because to arrange all these things we need a human to arrange in a specific way.

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