Explain the three factors
of production
4 points
Answers
Answered by
2
Land : Free gift of nature which has human control on it is known as land.
Labour : Physical or mental effort exerted by human is known as labour.
Capital : The money or wealth needed to produce goods and services is known as capital.
Answered by
2
Through the number and variety of different resources businesses require is limitless,economists divide the factors of production into three basic categories:land,labour,and capital.land refers to all of the natural resources that businesses need to make and distribute goods and services
HOPE IT'S HELP YOU
Similar questions