Question

Explain the various factors of production for the 9th class student

Answer 1

Heya...

There are four factors of production in economy....

1 Land --

Land is that factor which is necessary for set up any economic activity or industry....
By the earning from production land required rent for it ....

2 Labour ----

Labour is that factor that helps for mechanized all the machines or supervising ....
Labour wants Wages for his work...

3 Capital ---

Capital is must be needed for production to purchase all the inputs ....
The person who invest capital it needs interest in return..

4 Enterperur ----

An enterperur is that who is the owner of all the production....
He wants profit for his earning....

Answer 2

$\huge{HEY!! }$

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⚫There are four factors of production. Those are:-

⏩Land - Land is the basic principle of production. Natural resources like forests, water, minerals are required to cultivate on land.

⏩Labour - Labour is required to do the physical work like sowing of seeds, harvesting etc. Qualified labours are required to do a particular physical work.

⏩Capital

Working capital - Working capital means to invest money in raw materials, labour etc.

Fixed capital - Fixed capital means to invest money in Machinery, irrigating facilities etc.

⏩Interprenaur - Interprenaur means human knowledge. Knowledge and innovation is required to combine all land, labour and capital.