The resources which the producer have …
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Meghna Thapar 5 years, 6 months ago
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural gas.There are four basic types of economic resources in the world, which are land, labour, capital, and entrepreneurship. Land comprises all natural resources and supply which we require as a fundamental to the production of all goods. Labour is a measure of work done by human beings.
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