Economy, asked by tsatyam889, 1 year ago

what do you mean by factors of production

tanyamittal: there are 4 factors of production
tanyamittal: land , labour , physical capital , human capital
tanyamittal: land it is the first requirement as it provide minerals , water and other nutrients
tanyamittal: labour is required to do any work . There are two types of labour . Skilled and unskilled
tanyamittal: physical capital is the capital need to run an industry . It is of two types . Fixed and working
tanyamittal: human capital is very important as it is make land , labour and physical capital an important factor

Answers

Answered by vivekanandojha
13
factor of production mean land, labour , physical capital & capital
Answered by Siddiquisahil
9
Factor of production means input that are used for producing crops.
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