Question

What are the main factors responsible for production?

Answer 1

1. land

2. capital - fixed and working

3. human resource

4. labour(human efforts)

Answer 2

Factors required for production are as follows:

1 Land -It includes land and other resources like water,forest etc.

2 Labour- It include both skilled and unskilled labour.

3 Physical capital - It include fixed capital and working capital.

Fixed capital - Those assets which can be used many times in production is called fixed capital.

Working capital- Raw materials and money in hand is called working capital.