Question

Make a list of things needed for production process. Explain in brief.​

Answer 1

Answer:

Land

labour

physical capital

human resources

Explanation:

The first requirement is land, and

other natural resources such as water,

forests, minerals.

The second requirement is labour, i.e.

people who will do the work. Some

production activities require highly

educated workers to perform the

necessary tasks. Other activities require

workers who can do manual work. Each

worker is providing the labour necessary

for production.

The third requirement is physical

capital, i.e. the variety of inputs required

at every stage during production.

Human resources are also necessary for the production process because production is only possible due to human skills and knowledge.

Hope this will help you :)