What are the main factors of production ?
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Answered by
23
The main factors of production are - - -
(1) Land
(2) Labour
(3) Machines
(4) men
(5) Material
(6) Capital.
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(1) Land
(2) Labour
(3) Machines
(4) men
(5) Material
(6) Capital.
HOPE U LIKE IT
varshasavitha52:
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Answered by
19
Factors of production are-
1️⃣ Land:
✔️Land and other natural resources such as water,forests and minerals are important factors of production.
2️⃣ Labour:
✔️Labour are the people who do work.Some production activities require highly qualify labour while some require labour who can do more of physical work.
3️⃣ Physical Capital:
✔️It is the various inputs required at every stage during production.
*physical can be classified into 2 types:
1) Working capital. Eg:- raw materials such as clay ,yarn etc.
2) Fixed capital. Eg:- machinery, buildings etc.
4️⃣ Human capital:
✔️Human capital is required to put together the 3 factors such as land, labour and capital.
1️⃣ Land:
✔️Land and other natural resources such as water,forests and minerals are important factors of production.
2️⃣ Labour:
✔️Labour are the people who do work.Some production activities require highly qualify labour while some require labour who can do more of physical work.
3️⃣ Physical Capital:
✔️It is the various inputs required at every stage during production.
*physical can be classified into 2 types:
1) Working capital. Eg:- raw materials such as clay ,yarn etc.
2) Fixed capital. Eg:- machinery, buildings etc.
4️⃣ Human capital:
✔️Human capital is required to put together the 3 factors such as land, labour and capital.
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