Question

WHAT IS THE FACTORS OF PRODUCTION?EXPLAIN THEM DETAIL

Answer 1

Answer:

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Answer 2

Explanation:

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship