Question

what are factors of production? explain breifly?
I mark you brainliest​

Answer 1

Answer:

The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

there are 5 factors of production Knowledge, entrepreneurship, labour, capital and land has described as factors of production needed in any economic system, so as to operate effectively.