Question

what are the three requirement of production? explain​

Answer 1

1.land

2.physical labour

3.capital

hope it helps you

Answer 2

in economics the term factors of production refers to all the resources required to produce goods and services. A paper company might need, among many other things, trees, water, a large factory full of heavy machinery, a warehouse, an office building, and delivery trucks. It might require a thousand workers to run the factory, take orders, market (or sell) the paper, and deliver it to wholesalers or retail stores. It might need thousands more resources of varying size and cost. Some of these items, such as workers’ skills, might be intangible. Together, these resources constitute the factors of production necessary for the paper company to do business.

Though the number and variety of the different resources businesses require is limitless, economists divide the factors of production into three basic categories: land, labor, and capital.