Question

If land, labour, physical capital and human capital is the factors of production ,then among these which one is most important and why?

Answer 1

I think Human capital is best because-

1.It make use of other resources like land, labour and physical Capital

2.The resources can't become useful on their own.

3.Humans with their knowledge and skills put resources together and utilies it.

Hence, Human Capital is best among all resources.