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Factors of Production

The four main...

Question

The four main factors of production are land, labour, capital, and entrepreneurs.

A

False

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B

True

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Solution

The correct option is B True

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Land, labour, capital and entrepreneurship are factors of production.

Q. Fill in the blanks with appropriate alternatives given in the bracket.
_________ is regarded as primary factor of production.
[Land, Labour, Capital, Entrepreneur]

Q. Land, labour, capital, and entrepreneur are collectively called as _________________.

Q. The supplies the land, labour, capital, and organization to the production unit.

Q. Assertion (A): Land, capital and labour are known as ‘factors of production’.

Reason (R): They are not essential to produce finished products.

Choose the correct option.

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