Question

What are the 4 factors of production? Explain

Answer 1

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.

Answer 2

4 factors of production are ==> (1). Land ( include all natural resources ) ...... (2). Labor..... (3). Capital...... (4). Entrepreneurship....