Question

What are major components production in ag

Answer 1

The Major components of production is

Land:- IF there is land then work is done

If there is no land then no production of crops will occur.

Labour:- Labour can work on the land.

if there is no Labour then how

work is done.

Capital:- Capital is a type of income which has given to Labour for their work.

Capital is of two types:-

Working Capital:- It is a type of capital in which we consider raw materials,etc because it sustain only a few days.

Fixed Capital:- It is a type of capital in which we consider machines,etc because it sustain for a longer period of time.

Entrepreneur:- It is the mastermind of activities like land, Labour, Capital.

It take together of all activities like land, Labour, Capital. It is responsible for making capital.

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