Economy, asked by ktejwani0310, 1 month ago

what are the 4 factors of production? explain through an example

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Answered by meenumaurya29011986

1

Answer:

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. ... The income that resource owners earn in return for land resources is called rent.

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