Question

what is the first four most requirment for the production of goods and services?​

Answer 1

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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. Land plays an important part in production because land itself and the resources on it are usually limited.

Answer 2

Answer:

The four main requirements for the production of goods and services are :

A) the first requirement is the land and other natural resources.

B) the second is labour i.e., people who carry out the work for production.

C) the third is physical capital i.e., varieties of inputs that are required for production such as fixed capital (building, equipment, etc.) and working capital (cash, raw materials, etc.).

D) the fourth requirement is human capital, which may include technology qualified manpower etc. The items under physical capital are fixed capital and working capital.

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@dhruvchaudhary38