Question

list and explain the four requirements of production of goods and services.{ based on the chapter the story of Village Palampur

Answer 1

landlabourphysical capital(a) working capital(b) fixed capitalhuman capital

Answer 2

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For the production of services and goods of any type, there are four factors that are used in the production. They are land, capital, labor, and enterprise. Out of these four factors, the first and the most important factor is land. Land includes other natural resources like forests, minerals, and water.