Question

What do you mean by the term 'factors of
production'? Explain each factor of
production in detail.​

Answer 1

Answer:

Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship.

Explanation:

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Answer 2

Answer:

Factors of production is an economic term that describes the inputs used in the production of goods or services. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship