Question

explain the four factors of production (for class IX) ​

Answer 1

Answer:

There are four factors of production i.e. land, labour, physical capital and human capital. The first requirement for production is land. Land as a production factor also includes other natural resources like water, forests and minerals found in the earth's crust. ... Such inputs are called fixed capital.

Answer 2

4 factors of production are.

1- land :it is all kinds of natural resources like land etc

2- labour: it consists of human physical and mental efforts that are used in production of goods and services.

3- capital: it refers to man made goods used for further production

4-enterprise: it comprise an entrepreneur who Co ordinates and combines factors of production