What is various requirement of production ?explain them
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Physical capital refers to variety of inputs that are needed at different stages of production such as tools, machinery, finances, raw material etc. Human capital is the fourth requirement of production of goods and services.
Land (including all natural resources),
Labor (including all human resources),
Capital (including all man-made resources), and.
Enterprise (which brings all the previous resources together for production).
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Physical capital refers to variety of inputs that are needed at different stages of production such as tools, machinery, finances, raw material etc. Human capital is the fourth requirement of production of goods and services
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