Question

Ram Singh is farmer in a village of Haryana, who owns 2 hectares of land. Both
he and his wife Rani, work in the field. Earlier, they only grew paddy on their land.
Now they want to increase the productivity of their land by growing two crops and
better variety of seeds and irrigation. They want to grow two crops, paddy and
potatoes. For this they need money to buy good quality seeds and fertilizers. As they
do not have enough money, both work in other's farms as labourer. They spend some
money on the fertilizers, seeds, pump sets etc. After working very hard, they manage
to have a good crop of both paddy and potato. They keep some paddy and potato
grown in their farm for their personal use and sell the rest. They earn Rs. 12,000
by selling their crops.

1) Identify the factors of production in this story?
2) What are the capital goods used in this example?​

Answer 1

Answer:

1). land , fixed capital , working capital , human capital

2.). sorry I don't know

Explanation:

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