Question

Name the scarce factor of production

Answer 1

Remember, goods and services are scarce because the factors of production used to produce them are scarce. ... I will say the name of an item and you will identify it as one of the four possible resources that form the factors of production: land, labor, capital, or entrepreneurship.

Answer 2

Answer:

Capital is the most scarce factor of production . Small farmers usually take loans from money lenders and it is difficult to repay for them . Therefore capital is too scarce factor of production generally for small farmers.