Question

what is the aim of production? give the factors of production class 9

Answer 1

The aim of production is to produce goods and services to satisfy the needs of people as per their demand. Four factors for production of goods and services are as follows : Land Land and other natural resources such as water, forests, minerals etc. Labour or Workers The workers provide necessary labour for production.

Answer 2

→ Aim of production is to produce goods

and render services to the economy.

The first factor of production is land, but

this includes any natural resource used

to produce goods and services.

_______________________________

→The four production factors are:

•Physical Capital.

•Land.

•Human Capital.

•Labour.