Question

What are the factor of production means? What are the four require ments for the production of goods and services​

Answer 1

Answer:

Factors of production are the inputs needed for the creation of a good or service. The factors of production include land, labor, entrepreneurship, and capital.

Explanation:

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Answer 2

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• Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy.
• Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

• The main requirements for the production of goods and services are land, labor, physical capital, and human capital

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