Question

What are the different requirements of productions? Explain

Answer 1

Answer:

There are many requirements for productions but main is four that is land , labour , physical capital and human capital .

Explanation:

Land is the physical place were all the economic activity take place . Labour is important requirement of productionof goods and services . Physical capital is refers to the variety ofinputs that needed at different stages of production. Human capital is the knowledge and effort that is put into arrange for other requirements.