Question

methodology of factor of production​

Answer 1

Explanation:

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.

Answer 2

Methodology of factor of production​ is as follows:

• Factor of production is divided into four categories by the economists.
• These factor includes- land, labor, capital, entrepreneurship.
• Land is the first product among all, this includes any natural resource which is used in case of production of services and goods.
• Labor involves any kind of human input.
• Manufactured resources like machines and factories are included in capitals.
• Economic growth's vital engine is entrepreneurs who brings the other three factors of production together.