Question

What are the four requirements for producing and explain the importance of all factors of production​

Answer 1

Answer:

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

Answer 2

Answer:There are four categories of resources, or factors of production: Natural resources (land) Labor (human capital) Capital (machinery, factories, equipment)

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