Explain the four requirements for production of goods and services Give one example of each - Social Science - People as Resource

Question

Explain the four requirements for production of goods and
services Give one example of each

Sushrita Das · Accepted Answer

The factors of production are:

Land : Land refers to the resources in the form of water,
air etc It is the fixed factor of production
Labour : Labour refers to the activities that are
performed by workers
Capital : the tools, machines and finances used during
the production are capital
Enterprise : Enterprise refers to expertise and
knowledge

Explain the four requirements for production of goods and services.Give one example of each.