What are the main sources of production?
Answers
Answered by
2
Explanation:
There are three basic resources or factors of production: land, labor, and capital. The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods".
hope it helps you.....
mark it as brainliest answer
Answered by
0
The main sources of production are land, labor, capital, and entrepreneurship.
Explanation:
- Sources of production is an economic term that is used to describe the inputs used in the production of any good or service.
- They help in economic profit.
- These include any resource needed to create any good or service demanded.
- Land as a source of production means agriculture and farming of raw material.
- Natural resources, such as coal, gold and oil, can be extracted and refined by labors from the mines.
- Capital is used for building factory or organization to take care of all the things that are used while making final production.
- Entrepreneurship is the most important source that combines all the other sources into one production.
#SPJ2
Similar questions