Environmental Sciences, asked by varshasavitha52, 1 year ago

What are the main factors of production ?

Answers

Answered by sachinarora2001
23
The main factors of production are - - -


(1) Land
(2) Labour
(3) Machines
(4) men
(5) Material
(6) Capital.

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varshasavitha52: For 3mark question u can't write this
Answered by Anonymous
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.

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