What are the factors of production class 9
Asked by admin @ in Economy viewed by 333 People
What are the factors of production? explain
Answered by admin @
Hello Mate!
Factors of production are :-
Land :- The land is an important factor for cultivation. As vast as tge land will be , the production will be more because large land provide multiple cropping etc,.
Labour :- Unskilled, Semi - Skilled and Skilled labours are main factors. There is aboundance of labour in nature.
Capital :- Fir starting up any business you need money to invest. This is what we mean by capital.
Human Capital :- Last but not the least, most important capital amongst all is Human Capital because to arrange all these things we need a human to arrange in a specific way.
Hope it helps☺!
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