Question

write do explain four factors of production​

Answer 1

Explanation:

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services

Answer 2

Answer:

1. Natural / land resources: Land is quite a broad category as a factor of production in that it refers to all natural resources .
2. Labor: As a factor of production involves any human input . It is any work done by people contributing prodiction .
3. Capital: Capital refers not to money , as you might expect , but to manufacture resources such a factories and machines.
4. Entrepreneurship: An entrepreneur someone who takes on the economic risk involved in bringing the other three factories of production together.