Social Sciences, asked by lucky454, 1 year ago

what are the various requirements of production

Answers

Answered by AJATARYUS137
9
Resources required for generation of goods or services, generally classified into four major groups:
Land (including all natural resources),
Labor (including all human resources),
Capital (including all man-made resources), and
Enterprise (which brings all the previous resources together for production).
These factors are classified also as management, machines, materials, and money (this, the 4 Ms), or other such nomenclature. More recently, knowledge has come to be recognized as distinct from labor, and as a factor of production in its own right.

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