What are major components production in ag
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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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