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Explain factor of production?

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Explain factor of production?

Posted by Vivek Rauta 4 years, 7 months ago

CBSE > Class 09 > Social Science

3 answers

Chhavi Kharb 4 years, 7 months ago

In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.

Divyansh Jain 4 years, 7 months ago

The factors of production are land, labour, physical capital and human capital.

Sia ? 4 years, 7 months ago

In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.

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