Question

What is production and explain four factor of production

Answer 1

The making of goods and services is called as production.
The four factors of production are
)Good material
)low and cheap workers
)market
)availability of resources

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Answer 2

The aim of production is to produce the Goods and services that we want .There r four requirements for production of goods Nd services.
The first is LAND.nd natural resources ..such as water, forest, minerals.

second is LABOUR --People who will do the work.

third is physical capital---ex..tools, machines, buildings......row materials Nd money ...they r called working capital.

fourth is----Human capital

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