Question

give a detailed account on factor of production​

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

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

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