Question

What do you underdstand by factors of production

Answer 1

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. ... The factors of production include land, labor, capital and entrepreneurship.

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Answer 2

here is your ans.....

resources required for generation of goods and services are said to be factors of production .they include:

1 land (including all natural resources )

2 labour (including all human resource )

3 capital (including all man made resources

4 Enterprise

hope this will help you