what are the main factor of production&Define&give example of each.
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land,labour,physical capital and human capital
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main factors --
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
define
Resources required for generation of goods or services, generally classified into four major groups: Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and. Enterprise (which brings all the previous resources together for production).
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
define
Resources required for generation of goods or services, generally classified into four major groups: Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and. Enterprise (which brings all the previous resources together for production).
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