what is the aim for production? explain the four factors of production with suitable examples
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These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship.
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tarangdrummer:
can you please explain these 4 factors??!!
The four requirements of production of goods and services are land, labor, physical capital and human capital. Land is the physical place where all the economic activity takes place.
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