what do you mean by factors of production
tanyamittal:
there are 4 factors of production
land , labour , physical capital , human capital
land it is the first requirement as it provide minerals , water and other nutrients
labour is required to do any work . There are two types of labour . Skilled and unskilled
physical capital is the capital need to run an industry . It is of two types . Fixed and working
human capital is very important as it is make land , labour and physical capital an important factor
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factor of production mean land, labour , physical capital & capital
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Factor of production means input that are used for producing crops.
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