Identify the various factor of production in this picture
Answers
Answer:
using raw material
,man power,
and money
Answer:
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
The first factor of production is land, but this includes any natural resource used to produce goods and services.
The second factor of production is labor.
Labor is the effort that people contribute to the production of goods and services.
The third factor of production is capital. Think of capital as the machinery, tools and buildings humans use to produce goods and services. Some common examples of capital include hammers, forklifts, conveyer belts, computers, and delivery vans.
The fourth factor of production is entrepreneurship. An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. The most successful entrepreneurs are innovators who find new ways produce goods and services or who develop new goods and services to bring to market.
Explanation:
Raw material , labour , Machinery , money
I hope it's help you
please please mark as brainliest
and give 100 likes