Question

what are the factors of production​

Answer 1

Answer:

There four factors of production:

1. Land

2. Labour

3. Physical capital

4. Human capital

Explanation:

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Answer 2

Answer:

To make an economic profit, the inputs used to produce goods or services are called factors of production.

For the production of these kinds of goods, various resources are used. Those factors are:

1) Labour - Time, effort etc is counted as labour and how it has direct influence towards certain production of goods.

2) Entrepreneurship - Way of debuting in a particular investment indicates how good the production would yield.

3) Capital - Purchasing of goods with money requires capital.

4) Land - For a real estate investment, land holds a great significance.