wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

What are known as factors of production?

Open in App
Solution

Every production is organised by combining land, labour, physical capital and human capital. These are known as factors of production.

flag
Suggest Corrections
thumbs-up
1
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Total, Average, and Marginal Product
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon