Question

explain the important factors
for production of goods and
Services ?​

Answer 1

Answer:

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship

Answer 2

Answer:

Some of the important factors are:

1. Landscape: the land used there for production should be far from main city
2. Availability of labour: cheap skilled and unskilled labour should be available
3. Waste management: there should be proper waste disposal facilities.
4. Transportation: there must be proper transportation services.
5. Closeness to market: main market should not be too far from manufacturing area!

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