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Explain the four requirements for production

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Explain the four requirements for production
  • 2 answers

Amar Kumar 8 years, 3 months ago

In order to make a profit, a person usually needs certain things, or certain economic inputs. The economic inputs used to make a profit are called factors of production. According to traditional economic theory, there are four main factors of production:

land

labour

capital

entrepreneurship.

Purty Chopra 8 years, 3 months ago

1)land -it has natural resources. Land is fixed
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