Question

what are called factors of production

Answer 1

Hi..........

Factors of production is an economicterm that describes the inputs that are used in the production of goods or services in order to make an economicprofit. 

Answer 2

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.

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