Suppose you want to start any business of your choice. List down the requirements for starting the business and process of production. Then classify into four factors of production
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According to traditional economic theory, there are four main factors of production: land, labor, capital, and entrepreneurship.
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Explanation:
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function
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