what are the basic requirements of production? Explain each one of them.
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Answer:
something that is required or necessary. Basic human needs are those things that are required for complete physical and mental well-being. Needs vary greatly in the degree to which they are necessary for survival. For this reason, they are often classified into a hierarchy according to their relative urgency.
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hiii
your answer is here !
Explanation:
The four requirements of production of goods and services are land, labor, physical capital and human capital. Land is the physical place where all the economic activity takes place. Land plays an important part in production because land itself and the resources on it are usually limited.
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