Question

what are the factors of production ?​

Answer 1

The four factors of production are land, labour, human capital or physical capital and money.

Answer 2

Capital, entrepreneur, land, and labor are the major factors of production.

Explanation:

• The elements that play a significant role in the process of production are known as the factors of production. The most common factors of production are capital, entrepreneur, land, and labor.
• Capital is the amount of money that is invested in any economic activity. Without capital, no material can be procured.
• An Entrepreneur is a person who has a creative mind and uses the resources.
• Land is the basis of setting up a place where work can be done.
• Labor is the human resource that processes the raw material to make it useful.