Question

Write about any factor of production

Answer 1

Answer:

Classification of factors of production :

1. Land

2. Labour

3. Capital

4. Organisation

Land

Land not only includes upper surface of the soil , but also includes all the other free gifts of nature , such as air ,water,climate,sun, rivers, forest, mountains, mine,etc., which are economically useful to men .In every type of productive activity , land is required. so, land is a basic factor of production . It is a passive factor of production . It is used by labour and entrepreneurs.

hope it helps.....