Question

Explain the four factors of production in palampur

Answer 1

Answer:

I) land :-- land is the first requirment.

ii) labour :-- we need two types of labourers

1. skilled labour :- artitecture

2. unskilled labour:- who can do casual work.

iii) physical capital

1. fixed capital :- capital which is invested by the company.

ex.. tools, machinery and buildings

2. working capital :- capital which is used by the company.

ex.. raw materials and money

iv) human capital :-- human are very knowledgeable.

Answer 2

Answer:

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