Question

The production is possible due to the cooperation of the various factors of production, popularly known as

• A. Land, labour of course entrepreneurship
• B. Land, labour, capita and of course entrepreneurship
• C. Land, labour, capital, market and of course entrepreneurship
• D. Land, labour, capital, market, management and of course entrepreneurship

Answer 1

The correct option is D Land, labour, capital, market, management and of course entrepreneurship

In order to earn profit or in economic terms "economic profits" ,the factors of production act as inputs.

The factors include Land,Labour, capital and entrepreneurship. In other terms these are known as Machines ,management,materials and labours and knowledge which has been a new addition to the factors of production.