Question

# The factors of production may be defined as resources which help the firms to produce goods or services.

A
True
B
False

Solution

## The correct option is A TrueThe factors of production refer to the means of production by which production mechanism is facilitated. $$4$$ factors of production are-land, labour, capital, entrepreneurship. These help to produce goods and services in an economy.Social ScienceNCERTStandard IX

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